Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
The sales were made to cover tax withholding obligations related to the vesting of restricted stock units, as noted in a footnote accompanying the filing. These transactions do not represent discretionary trades by Scavo. Following the transactions, Scavo retains ownership of 668,106 shares in the company, maintaining significant exposure to the $2.96 billion healthcare provider. According to InvestingPro, analysts have set price targets ranging from $9 to $21 for ALHC, with 8 additional exclusive insights available to subscribers.
The sales were made to cover tax withholding obligations related to the vesting of restricted stock units, as noted in a footnote accompanying the filing. These transactions do not represent discretionary trades by Scavo. Following the transactions, Scavo retains ownership of 668,106 shares in the company, maintaining significant exposure to the $2.96 billion healthcare provider. According to InvestingPro, analysts have set price targets ranging from $9 to $21 for ALHC, with 8 additional exclusive insights available to subscribers.
In other recent news, Alignment Healthcare has reported robust financial performance for the fourth quarter of 2024, exceeding analysts’ expectations with an earnings per share (EPS) of -0.16 compared to the forecast of -0.18. The company’s revenue also surpassed projections, reaching $701.2 million against the expected $674.97 million. This marks a significant milestone as the company achieved its first year of adjusted EBITDA profitability. Alignment Healthcare’s total revenue for 2024 was $2.7 billion, a 48% increase year-over-year, driven by a 59% growth in membership, particularly outside California.
Analysts have shown confidence in Alignment Healthcare’s future prospects. Piper Sandler raised its price target for the company to $21, maintaining an Overweight rating, while Raymond (NSE:RYMD) James increased its target to $19, reiterating a Strong Buy rating. Both firms highlighted the company’s strategic initiatives and growth potential. Alignment Healthcare’s guidance for 2025 includes projected revenue between $3.72 billion and $3.78 billion, with expected adjusted gross profit ranging from $415 million to $445 million. The company anticipates membership growth to reach between 227,000 and 233,000 by the end of 2025.
The company’s strategic focus on expanding its Medicare Advantage offerings and enhancing patient care has been noted as a key driver of its success. Analysts from Raymond James emphasized the company’s ability to grow at an annual rate of 20% or more while improving EBITDA profitability. Overall, these recent developments underscore Alignment Healthcare’s strong market positioning and growth trajectory.
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