Alignment Healthcare (ALHC) Soars 10.4% on Growth Guidance Beat, Higher Growth Outlook

We recently published 10 Stocks With Shocking Surges. Alignment Healthcare Inc. (NASDAQ:ALHC) is one of the best-performing stocks on Wednesday.

Alignment Healthcare saw its share prices grow by 10.36 percent on Wednesday to close at $13 apiece after exceeding its growth guidance across all key metrics for the second quarter and raising its outlook for the rest of the year.

During the second quarter period, Alignment Healthcare Inc. (NASDAQ:ALHC) swung to a net income attributable to shareholders of $15.67 million from a $24 million net loss in the same period last year.

Total revenues grew by 49 percent to $1.015 billion from $682 million year-on-year, while health plan membership ended at 223,700, up 27.8 percent year-on-year.

For the first half, Alignment Healthcare Inc. (NASDAQ:ALHC) recorded a $6.55-million net income, reversing a net loss of $70.5 million year-on-year, as revenues grew by 48 percent to $1.9 billion from $1.3 billion.

Looking ahead, the company is looking to increase its health plan membership to between 225,000 and 227,000 in the third quarter, and up to 229,000 to 234,000 by the end of the year.

Revenues for the current quarter are also pegged at $970 million to $985 million, while revenues for the full year were targeted to hit $3.885 billion to $3.91 billion.

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