Alignment Healthcare (NASDAQ:ALHC) Releases Earnings Results

by · The Markets Daily

Alignment Healthcare (NASDAQ:ALHC – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14), Briefing.com reports. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. During the same quarter in the previous year, the business earned ($0.19) earnings per share. The company’s revenue was up 51.6% on a year-over-year basis. Alignment Healthcare updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Alignment Healthcare Price Performance

Shares of ALHC stock opened at $12.40 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.61 and a current ratio of 1.60. The company’s fifty day moving average price is $10.74 and its 200-day moving average price is $8.73. Alignment Healthcare has a one year low of $4.46 and a one year high of $12.44.

Insiders Place Their Bets

In other news, insider Dawn Christine Maroney sold 7,074 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total value of $63,807.48. Following the completion of the transaction, the insider now owns 1,789,023 shares of the company’s stock, valued at $16,136,987.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 7,074 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total value of $63,807.48. Following the sale, the insider now owns 1,789,023 shares in the company, valued at $16,136,987.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 36,197 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.04, for a total value of $435,811.88. Following the completion of the sale, the chief financial officer now owns 123,429 shares in the company, valued at $1,486,085.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 354,287 shares of company stock worth $3,964,670. Corporate insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

ALHC has been the subject of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. TD Cowen increased their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. UBS Group raised their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays increased their price target on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, Robert W. Baird raised their target price on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Read Our Latest Research Report on ALHC

About Alignment Healthcare

(Get Free Report)

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.

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