Align Technology (NASDAQ:ALGN) PT Lowered to $370.00 at UBS Group

Align Technology (NASDAQ:ALGNGet Rating) had its target price trimmed by UBS Group from $380.00 to $370.00 in a research report sent to investors on Friday morning, MarketBeat.com reports. The firm currently has a buy rating on the medical equipment provider’s stock.

Other equities analysts also recently issued reports about the stock. Credit Suisse Group cut their price target on shares of Align Technology from $722.00 to $418.00 in a report on Wednesday, May 4th. Piper Sandler cut their price target on shares of Align Technology from $440.00 to $370.00 and set an overweight rating on the stock in a report on Friday, July 22nd. The Goldman Sachs Group downgraded shares of Align Technology from a buy rating to a sell rating and dropped their price objective for the company from $380.00 to $250.00 in a report on Thursday. Stephens dropped their price objective on shares of Align Technology from $500.00 to $375.00 and set an overweight rating on the stock in a report on Thursday. Finally, TheStreet downgraded shares of Align Technology from a b- rating to a c+ rating in a report on Monday, April 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology presently has a consensus rating of Moderate Buy and an average price target of $361.67.

Align Technology Price Performance

NASDAQ ALGN opened at $280.97 on Friday. The company has a fifty day moving average price of $258.45 and a 200-day moving average price of $365.69. The firm has a market cap of $22.14 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 4.15 and a beta of 1.77. Align Technology has a 1 year low of $225.86 and a 1 year high of $737.45.

Align Technology (NASDAQ:ALGNGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.23). The company had revenue of $969.60 million during the quarter, compared to analysts’ expectations of $986.05 million. Align Technology had a return on equity of 19.90% and a net margin of 17.51%. Align Technology’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $2.51 earnings per share. On average, research analysts anticipate that Align Technology will post 8.37 EPS for the current fiscal year.

Insider Transactions at Align Technology

In other news, Director C Raymond Larkin, Jr. purchased 1,000 shares of the stock in a transaction dated Friday, May 13th. The shares were purchased at an average cost of $264.42 per share, with a total value of $264,420.00. Following the completion of the acquisition, the director now owns 18,190 shares in the company, valued at approximately $4,809,799.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Joseph M. Hogan acquired 6,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were bought at an average cost of $298.48 per share, for a total transaction of $1,999,816.00. Following the completion of the transaction, the chief executive officer now owns 174,801 shares in the company, valued at $52,174,602.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Raymond Larkin, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was bought at an average price of $264.42 per share, for a total transaction of $264,420.00. Following the completion of the transaction, the director now owns 18,190 shares of the company’s stock, valued at approximately $4,809,799.80. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CHICAGO TRUST Co NA increased its position in shares of Align Technology by 27.1% in the first quarter. CHICAGO TRUST Co NA now owns 872 shares of the medical equipment provider’s stock worth $380,000 after purchasing an additional 186 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Align Technology by 26.2% during the first quarter. Envestnet Asset Management Inc. now owns 117,597 shares of the medical equipment provider’s stock valued at $51,272,000 after acquiring an additional 24,438 shares during the last quarter. RDA Financial Network grew its position in Align Technology by 12.8% during the first quarter. RDA Financial Network now owns 3,926 shares of the medical equipment provider’s stock valued at $1,712,000 after acquiring an additional 445 shares during the last quarter. Pacer Advisors Inc. grew its position in Align Technology by 33.4% during the first quarter. Pacer Advisors Inc. now owns 17,921 shares of the medical equipment provider’s stock valued at $7,814,000 after acquiring an additional 4,488 shares during the last quarter. Finally, Sentinel Trust Co. LBA bought a new position in Align Technology during the fourth quarter valued at approximately $282,000. 88.17% of the stock is currently owned by institutional investors.

About Align Technology

(Get Rating)

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

Recommended Stories

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

Want More Great Investing Ideas?

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.