Alignment Healthcare (NASDAQ:ALHC) Announces Earnings Results, Hits Expectations

Alignment Healthcare (NASDAQ:ALHC) announced its quarterly earnings data on Tuesday. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14), Briefing.com reports. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. During the same period in the previous year, the business posted ($0.19) EPS. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. Alignment Healthcare updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Alignment Healthcare Stock Up 5.7 %

ALHC traded up $0.67 on Thursday, hitting $12.40. The company had a trading volume of 2,410,721 shares, compared to its average volume of 1,029,118. The stock has a fifty day simple moving average of $10.74 and a 200-day simple moving average of $8.73. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $12.44. The firm has a market capitalization of $2.37 billion, a P/E ratio of -16.10 and a beta of 1.47. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61.

Insider Buying and Selling

In other news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the sale, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total value of $1,019,700.00. Following the completion of the transaction, the chief executive officer now owns 2,543,100 shares of the company’s stock, valued at approximately $28,813,323. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dawn Christine Maroney sold 7,074 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the sale, the insider now owns 1,789,023 shares in the company, valued at approximately $16,136,987.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 355,620 shares of company stock worth $3,976,667 in the last three months. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. KeyCorp initiated coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. UBS Group increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Stifel Nicolaus increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $10.33.

About Alignment Healthcare

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.