Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
Hakan Kardes, the Chief Experience Officer at Alignment Healthcare, Inc. (NASDAQ:ALHC), recently sold shares of the company’s common stock totaling $74,916. The transactions occurred on March 12, 2025, and involved the sale of 4,856 shares. The shares were sold at prices ranging from $14.72 to $15.76 per share. The sale comes as ALHC stock has demonstrated remarkable strength, posting a 214% return over the past year and trading near its 52-week high of $16.25.
These sales were conducted to cover tax withholding obligations associated with the vesting of restricted stock units. Following the transactions, Kardes holds 678,137 shares of Alignment Healthcare. According to InvestingPro analysis, the company, currently valued at $2.96 billion, appears slightly overvalued at current levels. Discover more insights with 10+ additional ProTips and comprehensive financial metrics available on InvestingPro.
In other recent news, Alignment Healthcare reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an EPS of -0.16, compared to the forecast of -0.18. The company’s revenue also exceeded projections, reaching $701.2 million against the expected $674.97 million. For the full year, Alignment Healthcare achieved a total revenue of $2.7 billion, marking a 48% increase year-over-year, and reached its first year of adjusted EBITDA profitability. Piper Sandler and Raymond (NSE:RYMD) James have both raised their price targets for the company, with Piper Sandler increasing it to $21 and maintaining an Overweight rating, while Raymond James lifted it to $19, reiterating a Strong Buy rating. Piper Sandler highlighted the company’s "flywheel" approach as a key driver for success, which is gaining traction across various states. Raymond James noted Alignment Healthcare’s robust performance in the fourth quarter, with membership growth of approximately 59% and a lower-than-expected medical loss ratio. Looking forward, the company has provided guidance for 2025, projecting revenue between $3.72 billion and $3.78 billion and membership growth to reach between 227,000 and 233,000 members.
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