Align Technology (NASDAQ:ALGN) was upgraded by research analysts at Credit Suisse Group to a “buy” rating in a report released on Thursday, January 4th. The firm currently has a $276.00 target price on the medical equipment provider’s stock. Credit Suisse Group’s price objective points to a potential upside of 9.13% from the stock’s current price.
ALGN has been the topic of a number of other research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $225.00 price objective (up previously from $205.00) on shares of Align Technology in a research note on Thursday, October 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 price objective (up previously from $195.00) on shares of Align Technology in a research note on Friday, October 6th. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price objective on the stock in a research note on Monday, October 30th. Northcoast Research reaffirmed a “buy” rating and set a $230.00 price objective (up previously from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Finally, Robert W. Baird reissued a “buy” rating on shares of Align Technology in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Align Technology presently has an average rating of “Buy” and a consensus price target of $236.75.
Shares of Align Technology (NASDAQ ALGN) traded up $4.60 during trading hours on Thursday, reaching $252.91. 722,500 shares of the company traded hands, compared to its average volume of 1,214,162. Align Technology has a one year low of $88.56 and a one year high of $266.41. The firm has a market cap of $20,710.00, a P/E ratio of 76.87, a PEG ratio of 1.89 and a beta of 1.43.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.19. The company had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. Align Technology’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. sell-side analysts anticipate that Align Technology will post 3.65 EPS for the current fiscal year.
In other news, VP Julie Tay sold 3,500 shares of Align Technology stock in a transaction on Monday, November 13th. The stock was sold at an average price of $253.00, for a total transaction of $885,500.00. Following the transaction, the vice president now owns 12,213 shares in the company, valued at approximately $3,089,889. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John Morici sold 1,500 shares of Align Technology stock in a transaction on Friday, November 24th. The stock was sold at an average price of $255.00, for a total value of $382,500.00. Following the transaction, the chief financial officer now owns 1,544 shares in the company, valued at approximately $393,720. The disclosure for this sale can be found here. Insiders sold a total of 52,849 shares of company stock worth $13,494,348 in the last 90 days. 1.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ALGN. Crossmark Global Holdings Inc. purchased a new stake in Align Technology in the 3rd quarter valued at about $2,875,000. Rhumbline Advisers raised its holdings in Align Technology by 4.9% in the 3rd quarter. Rhumbline Advisers now owns 150,816 shares of the medical equipment provider’s stock valued at $28,092,000 after buying an additional 7,032 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Align Technology in the 2nd quarter valued at about $454,000. Aperio Group LLC raised its holdings in Align Technology by 38.5% in the 3rd quarter. Aperio Group LLC now owns 42,818 shares of the medical equipment provider’s stock valued at $7,976,000 after buying an additional 11,892 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in Align Technology in the 3rd quarter valued at about $2,351,000. Institutional investors and hedge funds own 82.89% of the company’s stock.
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Align Technology Company Profile
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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