Hakan Kardes, the Chief Experience Officer of Alignment Healthcare, Inc. (NASDAQ:), a healthcare company with a market capitalization of $2.87 billion that has seen its stock surge 122% over the past year, has recently sold 14,500 shares of the company’s common stock. The shares were sold at a weighted-average price of $14.9846, resulting in a total transaction value of $217,276. Following this sale, Kardes retains ownership of 295,444 shares. According to InvestingPro analysis, the stock is currently trading near its 52-week high of $15.05.
The transaction was conducted under a pre-established Rule 10b5-1 trading plan, adopted on March 14, 2024. The shares were sold in multiple transactions at prices ranging from $14.98 to $15.00 per share. InvestingPro data indicates the stock is currently in overbought territory, with 11 additional key insights available to subscribers.
In other recent news, Alignment Healthcare has seen a series of positive developments. Stifel analysts have raised the company’s price target from $14.00 to $16.00, maintaining a Buy rating and highlighting Alignment’s robust Annual Enrollment Period results. This follows the company’s impressive 43.5% revenue growth over the last twelve months and a 35% year-on-year increase in health plan membership, reaching approximately 209,900 members. Anticipated membership growth is expected to reach between 225,000 and 231,000 by the end of 2025.
Additionally, the company’s third-quarter results for 2024 displayed a 58% increase in health plan membership and a 52% increase in total revenue, amounting to $692 million. TD Cowen, a financial services firm, responded to these strong results by raising its price target for Alignment Healthcare from $10.00 to $13.00, while maintaining a Buy rating. The company’s management is also expecting at least a 20% growth in Medicare Advantage membership and an adjusted EBITDA of over $40 million by 2025.
These recent developments indicate a positive outlook for Alignment Healthcare, with analysts from Stifel and TD Cowen expressing confidence in the company’s strategic positioning and growth potential.
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