Raymond James Trims Alignment Healthcare (NASDAQ:ALHC) Target Price to $20.00

Alignment Healthcare (NASDAQ:ALHC) had its target price trimmed by Raymond James from $30.00 to $20.00 in a research report sent to investors on Wednesday, The Fly reports. The firm currently has an outperform rating on the stock.

ALHC has been the subject of a number of other research reports. Zacks Investment Research upgraded Alignment Healthcare from a hold rating to a buy rating and set a $12.00 price objective for the company in a research report on Monday, January 10th. The Goldman Sachs Group initiated coverage on Alignment Healthcare in a research report on Tuesday, December 14th. They set a buy rating and a $20.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Alignment Healthcare in a research report on Friday, December 3rd. They set an overweight rating and a $20.00 price objective for the company. Finally, Barclays increased their price objective on Alignment Healthcare from $26.00 to $28.00 and gave the company an overweight rating in a research report on Monday, November 8th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $23.60.

ALHC opened at $8.39 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.30 and a current ratio of 3.30. Alignment Healthcare has a 1-year low of $8.12 and a 1-year high of $28.59. The business has a 50 day moving average price of $15.46 and a two-hundred day moving average price of $17.98.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, November 4th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The firm had revenue of $293.47 million during the quarter, compared to analyst estimates of $276.31 million. Alignment Healthcare had a negative return on equity of 68.37% and a negative net margin of 16.15%. Sell-side analysts anticipate that Alignment Healthcare will post -1.2 EPS for the current year.

In other news, CEO John E. Kao sold 70,698 shares of the company’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $19.91, for a total value of $1,407,597.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert Thomas Freeman sold 23,000 shares of the company’s stock in a transaction on Wednesday, October 20th. The stock was sold at an average price of $19.38, for a total transaction of $445,740.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,996,964 shares of company stock worth $140,675,268.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. acquired a new position in shares of Alignment Healthcare in the second quarter worth $34,000. UBS Group AG increased its position in Alignment Healthcare by 156.9% during the third quarter. UBS Group AG now owns 1,734 shares of the company’s stock worth $28,000 after buying an additional 1,059 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in Alignment Healthcare during the second quarter worth $48,000. Ameritas Investment Partners Inc. acquired a new position in Alignment Healthcare during the second quarter worth $48,000. Finally, Royal Bank of Canada increased its position in Alignment Healthcare by 26.8% during the second quarter. Royal Bank of Canada now owns 3,804 shares of the company’s stock worth $89,000 after buying an additional 804 shares during the last quarter. 79.57% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc provides a consumer-centric platform that delivers customized health care to seniors in the United States. It offers medicare advantage plans and health plan options to its partners and patients with customized care and service; and preferred provider organization offerings.

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