Alignment Healthcare, Inc. (NASDAQ:ALHC) Expected to Post Quarterly Sales of $336.59 Million

Wall Street analysts expect Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Rating) to announce $336.59 million in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Alignment Healthcare’s earnings, with the highest sales estimate coming in at $339.56 million and the lowest estimate coming in at $328.40 million. Alignment Healthcare posted sales of $308.95 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.9%. The company is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Alignment Healthcare will report full year sales of $1.35 billion for the current fiscal year, with estimates ranging from $1.34 billion to $1.35 billion. For the next financial year, analysts anticipate that the business will report sales of $1.63 billion, with estimates ranging from $1.55 billion to $1.71 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Alignment Healthcare.

Alignment Healthcare (NASDAQ:ALHC – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. Alignment Healthcare had a negative return on equity of 55.35% and a negative net margin of 14.38%. During the same quarter last year, the firm earned ($0.37) earnings per share.

A number of brokerages recently issued reports on ALHC. Piper Sandler reduced their price target on Alignment Healthcare from $25.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, February 24th. SVB Leerink started coverage on Alignment Healthcare in a research note on Monday, April 4th. They set an “outperform” rating and a $19.00 target price on the stock. Zacks Investment Research cut shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Morgan Stanley reduced their target price on Alignment Healthcare from $25.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, March 7th. Finally, William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $17.89.

In other news, CFO Robert Thomas Freeman sold 4,944 shares of the firm’s stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $11.18, for a total transaction of $55,273.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald Steven Furman sold 3,006 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $11.18, for a total value of $33,607.08. The disclosure for this sale can be found here. In the last three months, insiders sold 35,908 shares of company stock worth $401,451.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Alignment Healthcare by 1.4% during the third quarter. Geode Capital Management LLC now owns 592,579 shares of the company’s stock valued at $9,469,000 after purchasing an additional 8,060 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Alignment Healthcare in the 3rd quarter valued at about $400,000. Hood River Capital Management LLC lifted its holdings in shares of Alignment Healthcare by 15.8% in the 3rd quarter. Hood River Capital Management LLC now owns 1,535,610 shares of the company’s stock valued at $24,539,000 after acquiring an additional 209,969 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Alignment Healthcare by 1.7% in the third quarter. Goldman Sachs Group Inc. now owns 970,006 shares of the company’s stock worth $15,501,000 after acquiring an additional 16,580 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Alignment Healthcare during the third quarter worth approximately $2,382,000. Institutional investors own 82.68% of the company’s stock.

Shares of ALHC stock traded up $0.68 during mid-day trading on Thursday, reaching $9.75. The stock had a trading volume of 307,495 shares, compared to its average volume of 679,438. The firm has a market capitalization of $1.83 billion, a PE ratio of -9.65 and a beta of 2.53. The stock’s 50-day moving average price is $10.15 and its two-hundred day moving average price is $11.80. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.49. Alignment Healthcare has a 52-week low of $6.14 and a 52-week high of $27.92.

Alignment Healthcare Company Profile (Get Rating)

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada.

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