Alignment Healthcare (NASDAQ:ALHC) Given New $22.00 Price Target at Robert W. Baird

Alignment Healthcare (NASDAQ:ALHC - Free Report) had its price target lifted by Robert W. Baird from $17.00 to $22.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

ALHC has been the subject of several other reports. Barclays lifted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Friday, February 28th. Bank of America raised their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Stifel Nicolaus boosted their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Stephens restated an "overweight" rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alignment Healthcare presently has an average rating of "Moderate Buy" and an average target price of $16.61.

Alignment Healthcare Trading Down 6.4 %

Alignment Healthcare stock traded down $1.24 during mid-day trading on Tuesday, hitting $18.24. The company's stock had a trading volume of 6,294,406 shares, compared to its average volume of 1,678,380. The business has a 50 day moving average price of $16.46 and a 200-day moving average price of $13.79. Alignment Healthcare has a 12 month low of $4.92 and a 12 month high of $21.06. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -23.69 and a beta of 1.32.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Robert L. Scavo sold 2,864 shares of Alignment Healthcare stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total value of $51,236.96. Following the sale, the insider now owns 702,953 shares in the company, valued at $12,575,829.17. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00. Following the completion of the transaction, the president now directly owns 1,576,097 shares in the company, valued at $21,624,050.84. The trade was a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,181,855 shares of company stock worth $35,118,912 in the last ninety days. Insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in ALHC. JPMorgan Chase & Co. raised its position in Alignment Healthcare by 249.3% in the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock valued at $3,407,000 after purchasing an additional 205,705 shares during the period. Principal Financial Group Inc. boosted its holdings in Alignment Healthcare by 1,335.1% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock valued at $2,294,000 after acquiring an additional 180,522 shares during the period. US Bancorp DE increased its stake in Alignment Healthcare by 6,544.2% during the fourth quarter. US Bancorp DE now owns 98,932 shares of the company's stock worth $1,113,000 after purchasing an additional 97,443 shares during the period. Barclays PLC lifted its position in shares of Alignment Healthcare by 144.1% during the third quarter. Barclays PLC now owns 193,446 shares of the company's stock worth $2,287,000 after purchasing an additional 114,191 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Alignment Healthcare in the fourth quarter valued at approximately $184,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.