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Alignment Healthcare (ALHC) Moves 12.7% Higher: Will This Strength Last?
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Alignment Healthcare (ALHC - Free Report) shares soared 12.7% in the last trading session to close at $11.27. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.9% gain over the past four weeks.
Alignment Healthcare scored a strong price increase driven by the optimism surrounding the company’s Medicare Advantage (MA) plan - Alignment Health Plan’s update to introduce more than 55 plan benefits to address the diverse care needs of seniors. The plans will be available to 8.1 million Medicare-eligible adults who can select from Alignment’s portfolio during the Medicare annual enrollment period, which runs from Oct. 15 to Dec. 7, 2024. The plan benefits will start from Jan. 1, 2025.
This Medicare Advantage insurer is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of +26.3%. Revenues are expected to be $661.54 million, up 44.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Alignment Healthcare, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ALHC going forward to see if this recent jump can turn into more strength down the road.
Alignment Healthcare is part of the Zacks Medical Services industry. AMN Healthcare Services (AMN - Free Report) , another stock in the same industry, closed the last trading session 3.6% lower at $39.76. AMN has returned -21.8% in the past month.
For AMN Healthcare, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.63. This represents a change of -68% from what the company reported a year ago. AMN Healthcare currently has a Zacks Rank of #3 (Hold).
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Alignment Healthcare (ALHC) Moves 12.7% Higher: Will This Strength Last?
Alignment Healthcare (ALHC - Free Report) shares soared 12.7% in the last trading session to close at $11.27. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.9% gain over the past four weeks.
Alignment Healthcare scored a strong price increase driven by the optimism surrounding the company’s Medicare Advantage (MA) plan - Alignment Health Plan’s update to introduce more than 55 plan benefits to address the diverse care needs of seniors. The plans will be available to 8.1 million Medicare-eligible adults who can select from Alignment’s portfolio during the Medicare annual enrollment period, which runs from Oct. 15 to Dec. 7, 2024. The plan benefits will start from Jan. 1, 2025.
This Medicare Advantage insurer is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of +26.3%. Revenues are expected to be $661.54 million, up 44.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Alignment Healthcare, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ALHC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Alignment Healthcare is part of the Zacks Medical Services industry. AMN Healthcare Services (AMN - Free Report) , another stock in the same industry, closed the last trading session 3.6% lower at $39.76. AMN has returned -21.8% in the past month.
For AMN Healthcare, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.63. This represents a change of -68% from what the company reported a year ago. AMN Healthcare currently has a Zacks Rank of #3 (Hold).