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Christopher J. Joyce, the Chief Legal and Administrative Officer of Alignment Healthcare, Inc. (NASDAQ:ALHC), recently executed several stock transactions according to a Form 4 filing with the SEC. These transactions come as ALHC trades near its 52-week high of $16.25, with the stock delivering an impressive 183% return over the past year. On March 4, Joyce acquired 58,400 shares of common stock at no cost, following the achievement of certain performance objectives. Concurrently, he sold 25,000 shares, generating $389,615, with the sale price ranging from $15.11 to $15.86 per share. According to InvestingPro analysis, the stock currently trades at Fair Value levels, with analyst price targets ranging from $9 to $21.
On March 6, Joyce sold an additional 10,871 shares for $168,826, with the sale price ranging from $15.12 to $16.065 per share. These sales were conducted under a pre-established Rule 10b5-1 trading plan. The transactions were primarily made to cover tax withholding obligations related to the vesting of performance share units. Following these transactions, Joyce holds 386,974 shares directly in the $2.94 billion market cap company. Get deeper insights into ALHC’s valuation metrics and 8 additional key investment tips with InvestingPro’s comprehensive research report.
In other recent news, Alignment Healthcare reported strong fourth-quarter 2024 earnings, surpassing analyst expectations with an EPS of -0.16, better than the forecast of -0.18. The company’s revenue also exceeded projections, reaching $701.2 million compared to the expected $674.97 million. For the full year, revenue grew by 48% year-over-year to $2.7 billion, marking a significant milestone as the company achieved its first year of adjusted EBITDA profitability. Raymond (NSE:RYMD) James responded to these robust results by raising the price target for Alignment Healthcare to $19, maintaining a Strong Buy rating, citing the company’s impressive membership and revenue growth.
Furthermore, Piper Sandler adjusted its outlook on Alignment Healthcare, increasing the price target to $21 while keeping an Overweight rating. The firm’s confidence is based on Alignment Healthcare’s scalable "flywheel" approach, which has shown success in various states by improving patient engagement and clinical outcomes. Looking ahead, Alignment Healthcare projects 2025 revenue between $3.72 billion and $3.78 billion, with anticipated membership growth of approximately 35% from January 2025. The company also raised its adjusted EBITDA guidance to a range of $35 million to $60 million, reflecting optimism about future profitability.
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