Barclays set a $325.00 price target on Align Technology (NASDAQ:ALGN) in a report released on Thursday, TipRanks reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.
Other analysts have also issued research reports about the company. ValuEngine raised Align Technology from a hold rating to a buy rating in a report on Wednesday, December 26th. UBS Group started coverage on Align Technology in a report on Thursday, January 17th. They set a buy rating and a $230.00 price objective on the stock. BidaskClub raised Align Technology from a hold rating to a buy rating in a report on Friday, March 22nd. Morgan Stanley decreased their price objective on Align Technology from $300.00 to $210.00 and set an equal weight rating on the stock in a report on Friday, January 4th. Finally, Zacks Investment Research raised Align Technology from a sell rating to a hold rating in a report on Monday, December 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $329.07.
Shares of NASDAQ:ALGN traded up $3.42 during trading on Thursday, hitting $293.08. 740,638 shares of the stock were exchanged, compared to its average volume of 1,105,029. Align Technology has a 1-year low of $177.93 and a 1-year high of $398.88. The firm has a market capitalization of $23.17 billion, a PE ratio of 59.57, a PEG ratio of 2.64 and a beta of 2.13.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Tuesday, January 29th. The medical equipment provider reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.04. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. The company had revenue of $534.02 million for the quarter, compared to analyst estimates of $512.03 million. As a group, equities research analysts anticipate that Align Technology will post 5.08 EPS for the current fiscal year.
In other Align Technology news, SVP Julie Tay sold 1,250 shares of Align Technology stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $254.58, for a total value of $318,225.00. Following the completion of the transaction, the senior vice president now owns 11,926 shares in the company, valued at approximately $3,036,121.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Lacob sold 20,000 shares of Align Technology stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $258.31, for a total value of $5,166,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,650 shares of company stock worth $5,586,633. 1.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Landsberg Bennett & Dubbaneh LLC bought a new position in Align Technology in the 1st quarter valued at $931,000. Virtu Financial LLC bought a new position in Align Technology in the 1st quarter valued at $394,000. First Manhattan Co. bought a new position in Align Technology in the 1st quarter valued at $124,000. CAPROCK Group Inc. bought a new position in Align Technology in the 1st quarter valued at $238,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Align Technology in the 1st quarter valued at $410,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.
Align Technology Company Profile
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
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