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Alignment Healthcare (ALHC) Surges 17.2%: Is This an Indication of Further Gains?
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Alignment Healthcare (ALHC - Free Report) shares ended the last trading session 17.2% higher at $7.76. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.9% gain over the past four weeks.
Alignment Healthcare scored a strong price increase as its California Medicare Advantage (MA) HMO (which represents roughly 89% of its MA membership), has maintained an overall 4- out of 5-star rating from the Centers for Medicare & Medicaid Services (CMS) for 2024. This marks its seventh consecutive year as a 4-star or greater plan. Additionally, its North Carolina HMO achieved an overall 4.5- out of 5-star rating for 2024, its second year eligible for rating. The noteworthy star ratings reflect the high quality of company’s plans and service, raising investors optimism on the stock.
This Medicare Advantage insurer is expected to post quarterly loss of $0.20 per share in its upcoming report, which represents a year-over-year change of +9.1%. Revenues are expected to be $442.77 million, up 22.9% 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. ModivCare (MODV - Free Report) , another stock in the same industry, closed the last trading session 2% higher at $36.62. MODV has returned 1.8% in the past month.
For ModivCare, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.11. This represents a change of -31.1% from what the company reported a year ago. ModivCare currently has a Zacks Rank of #3 (Hold).
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Alignment Healthcare (ALHC) Surges 17.2%: Is This an Indication of Further Gains?
Alignment Healthcare (ALHC - Free Report) shares ended the last trading session 17.2% higher at $7.76. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.9% gain over the past four weeks.
Alignment Healthcare scored a strong price increase as its California Medicare Advantage (MA) HMO (which represents roughly 89% of its MA membership), has maintained an overall 4- out of 5-star rating from the Centers for Medicare & Medicaid Services (CMS) for 2024. This marks its seventh consecutive year as a 4-star or greater plan. Additionally, its North Carolina HMO achieved an overall 4.5- out of 5-star rating for 2024, its second year eligible for rating. The noteworthy star ratings reflect the high quality of company’s plans and service, raising investors optimism on the stock.
This Medicare Advantage insurer is expected to post quarterly loss of $0.20 per share in its upcoming report, which represents a year-over-year change of +9.1%. Revenues are expected to be $442.77 million, up 22.9% 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. ModivCare (MODV - Free Report) , another stock in the same industry, closed the last trading session 2% higher at $36.62. MODV has returned 1.8% in the past month.
For ModivCare, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.11. This represents a change of -31.1% from what the company reported a year ago. ModivCare currently has a Zacks Rank of #3 (Hold).