Hakan Kardes, the Chief Experience Officer at Alignment Healthcare, Inc. (NASDAQ:ALHC), a healthcare company with a market capitalization of $2.4 billion, recently sold 35,000 shares of the company's common stock. According to InvestingPro data, ALHC has delivered impressive returns with the stock up over 80% in the past six months. The shares were sold at a weighted average price of $12.804 per share, amounting to a total transaction value of $448,140. The sales occurred on November 27, 2024, with the stock price ranging from $12.62 to $12.89 per share. Following this transaction, Kardes holds 320,444 shares directly. While the company currently trades near its InvestingPro Fair Value, investors should note that analysts expect the company to remain unprofitable this year. Get access to 8 additional crucial ProTips and comprehensive analysis through the Pro Research Report, available exclusively on InvestingPro.
In other recent news, Alignment Healthcare has been the focus of positive financial developments. TD Cowen, a financial services firm, has elevated its price target for Alignment Healthcare to $13, maintaining a Buy rating on the company's stock. This decision was influenced by the company's impressive third-quarter results for 2024, surpassing consensus estimates for revenue, gross profit, and adjusted EBITDA.
In the same vein, Alignment Healthcare's third-quarter results showed robust growth, with a 58% increase in health plan membership and a 52% surge in total revenue, hitting $692 million. The company also achieved a positive adjusted EBITDA of $6 million, marking consecutive quarters of profitability.
These recent developments are backed by CEO John Kao's confidence in the company's operational efficiencies and star ratings, which are expected to sustain growth and margin improvements into 2025. Furthermore, Alignment Healthcare projects a minimum of 20% growth in Medicare Advantage membership, aiming for an adjusted EBITDA of over $40 million by 2025. These projections have contributed to TD Cowen's decision to revise the price target upward, reflecting a positive outlook on Alignment Healthcare's future financial performance.
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