Alignment Healthcare (NASDAQ:ALHC) Posts Quarterly Earnings Results

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

Alignment Healthcare Stock Performance

Shares of ALHC traded up $0.06 on Wednesday, reaching $11.77. The company’s stock had a trading volume of 458,045 shares, compared to its average volume of 1,010,891. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $2.25 billion, a P/E ratio of -13.76 and a beta of 1.47. The stock’s 50 day simple moving average is $10.62 and its two-hundred day simple moving average is $8.69. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $12.36.

Insider Buying and Selling

In related news, insider Dawn Christine Maroney sold 7,074 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 1,789,023 shares of the company’s stock, valued at approximately $16,136,987.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related 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 approximately $16,136,987.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Thomas Freeman sold 8,561 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total transaction of $85,695.61. Following the transaction, the chief financial officer now owns 399,429 shares in the company, valued at $3,998,284.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,940 shares of company stock valued at $3,487,014. 6.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALHC. UBS Group increased their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday. Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Finally, Robert W. Baird upped their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.