Hakan Kardes, the Chief Experience Officer at Alignment Healthcare, Inc. (NASDAQ:ALHC), recently sold 10,500 shares of the company’s common stock. The shares were sold at a weighted-average price of approximately $14.99, with the actual sales price ranging from $14.98 to $15.02 per share. InvestingPro subscribers have access to 12 additional key insights about ALHC, including detailed valuation metrics and growth indicators. Following this transaction, Kardes retains ownership of 309,944 shares in the company. The sale was executed under a pre-established Rule 10b5-1 trading plan, adopted on March 14, 2024.
In other recent news, Alignment Healthcare has been making significant strides in the healthcare sector. Stifel analysts have shown confidence in the company by raising its price target from $14.00 to $16.00, maintaining a Buy rating. This decision was influenced by the company's strong Annual Enrollment Period (AEP) results and robust revenue growth of 43.5% over the last twelve months.
In a similar vein, TD (TSX:TD) Cowen also increased its price target for Alignment Healthcare from $10.00 to $13.00 following the company's impressive third-quarter results for 2024. The company reported a 58% increase in health plan membership and a 52% increase in total revenue, totaling $692 million.
Recent developments also include a 35% year-on-year increase in health plan membership, reaching approximately 209,900 members as of January 1. The company projects an anticipated membership growth to between 225,000 and 231,000 by the end of 2025.
Alignment Healthcare's management has expressed confidence in achieving an adjusted EBITDA of over $40 million by 2025. They also anticipate a minimum of 20% growth in Medicare Advantage membership. These projections, along with the company's competitive advantages in star ratings and operational efficiencies, suggest continued success and market share acquisition in the coming years.
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