Align Technology (NASDAQ:ALGN) had its price objective increased by research analysts at Stifel Nicolaus from $265.00 to $295.00 in a research note issued to investors on Tuesday, Marketbeat reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 21.70% from the company’s previous close.
Several other brokerages also recently weighed in on ALGN. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $318.00 target price for the company in a research note on Monday, January 29th. Stephens downgraded shares of Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 price objective for the company. in a research note on Friday, January 19th. Credit Suisse Group reaffirmed an “outperform” rating and set a $276.00 price objective (up previously from $261.00) on shares of Align Technology in a research note on Tuesday, November 28th. Robert W. Baird reaffirmed a “buy” rating and set a $290.00 price objective on shares of Align Technology in a research note on Wednesday, November 29th. Finally, Morgan Stanley upped their price objective on shares of Align Technology from $257.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, November 27th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Align Technology presently has a consensus rating of “Buy” and an average target price of $258.54.
Shares of Align Technology (NASDAQ:ALGN) traded down $14.98 during mid-day trading on Tuesday, reaching $242.40. 1,864,858 shares of the company traded hands, compared to its average volume of 1,250,000. Align Technology has a 12-month low of $92.61 and a 12-month high of $287.32. The firm has a market cap of $19,440.00, a P/E ratio of 85.65, a price-to-earnings-growth ratio of 1.97 and a beta of 1.48.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.23. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The firm had revenue of $421.30 million during the quarter, compared to the consensus estimate of $395.88 million. During the same quarter in the previous year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 43.7% on a year-over-year basis. equities analysts expect that Align Technology will post 4.48 EPS for the current fiscal year.
In other news, VP Julie Tay sold 3,500 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $253.00, for a total transaction of $885,500.00. Following the completion of the sale, the vice president now owns 12,213 shares in the company, valued at approximately $3,089,889. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 29,724 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $260.91, for a total value of $7,755,288.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,749 shares of company stock valued at $10,348,281. Corporate insiders own 1.60% of the company’s stock.
Large investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new stake in shares of Align Technology during the 3rd quarter worth about $2,875,000. Rhumbline Advisers grew its holdings in shares of Align Technology by 4.9% during the 3rd quarter. Rhumbline Advisers now owns 150,816 shares of the medical equipment provider’s stock worth $28,092,000 after purchasing an additional 7,032 shares during the period. National Pension Service grew its holdings in shares of Align Technology by 98,968.3% during the 4th quarter. National Pension Service now owns 81,236 shares of the medical equipment provider’s stock worth $18,050,000 after purchasing an additional 81,154 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Align Technology during the 2nd quarter worth about $454,000. Finally, Aperio Group LLC grew its holdings in shares of Align Technology by 38.5% during the 3rd quarter. Aperio Group LLC now owns 42,818 shares of the medical equipment provider’s stock worth $7,976,000 after purchasing an additional 11,892 shares during the period. Institutional investors and hedge funds own 82.50% of the company’s stock.
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About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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