Align Technology (NASDAQ:ALGN) PT Raised to $350.00 at Stifel Nicolaus

Align Technology (NASDAQ:ALGN) had its price target lifted by analysts at Stifel Nicolaus from $340.00 to $350.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ target price indicates a potential upside of 10.71% from the company’s current price.

Other equities research analysts have also issued research reports about the company. SVB Leerink initiated coverage on Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. UBS Group lifted their target price on shares of Align Technology from $200.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Finally, Piper Sandler boosted their price objective on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Align Technology currently has a consensus rating of “Hold” and an average target price of $334.45.

Align Technology Stock Performance

Shares of ALGN traded up $1.79 during trading hours on Friday, reaching $316.14. The stock had a trading volume of 484,054 shares, compared to its average volume of 836,369. The company’s 50-day moving average is $291.40 and its two-hundred day moving average is $270.86. Align Technology has a 12 month low of $176.34 and a 12 month high of $413.20. The stock has a market capitalization of $23.74 billion, a PE ratio of 54.32, a PEG ratio of 5.70 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The business had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. Equities analysts anticipate that Align Technology will post 7.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Align Technology

In related news, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the transaction, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,524 shares of company stock worth $8,403,924. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Align Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALGN. Raymond James Trust N.A. raised its stake in shares of Align Technology by 39.4% during the 1st quarter. Raymond James Trust N.A. now owns 934 shares of the medical equipment provider’s stock valued at $407,000 after purchasing an additional 264 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Align Technology by 11.1% in the first quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical equipment provider’s stock valued at $78,911,000 after acquiring an additional 18,153 shares during the period. Prudential PLC bought a new stake in Align Technology during the 1st quarter worth approximately $955,000. Cetera Investment Advisers lifted its stake in Align Technology by 4.9% in the 1st quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock worth $747,000 after purchasing an additional 80 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Align Technology by 17.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical equipment provider’s stock valued at $229,000 after purchasing an additional 77 shares during the period. 87.07% of the stock is currently owned by institutional investors.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.