Brokerages Set Align Technology, Inc. (NASDAQ:ALGN) Price Target at $358.78

Align Technology, Inc. (NASDAQ:ALGN – Get Rating) has been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $358.78.

A number of analysts have issued reports on the company. Robert W. Baird boosted their target price on Align Technology from $260.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Piper Sandler increased their target price on Align Technology from $255.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. StockNews.com assumed coverage on Align Technology in a report on Thursday. They set a “hold” rating for the company. Stifel Nicolaus increased their price target on shares of Align Technology from $265.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Finally, Evercore ISI raised their price objective on shares of Align Technology from $230.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd.

Insider Transactions at Align Technology

In other news, CEO Joseph M. Hogan acquired 2,928 shares of the company’s stock in a transaction on Wednesday, February 8th. The shares were bought at an average cost of $341.50 per share, with a total value of $999,912.00. Following the transaction, the chief executive officer now owns 188,417 shares in the company, valued at approximately $64,344,405.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Align Technology news, CEO Joseph M. Hogan purchased 2,928 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was bought at an average cost of $341.50 per share, with a total value of $999,912.00. Following the acquisition, the chief executive officer now directly owns 188,417 shares of the company’s stock, valued at $64,344,405.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Morici acquired 587 shares of the company’s stock in a transaction dated Wednesday, February 8th. The stock was acquired at an average price of $341.84 per share, for a total transaction of $200,660.08. Following the acquisition, the chief financial officer now owns 8,204 shares in the company, valued at approximately $2,804,455.36. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Align Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Align Technology by 12.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,213,345 shares of the medical equipment provider’s stock valued at $1,701,067,000 after purchasing an additional 889,705 shares during the period. Sands Capital Management LLC lifted its stake in Align Technology by 14.9% in the fourth quarter. Sands Capital Management LLC now owns 2,660,870 shares of the medical equipment provider’s stock valued at $561,177,000 after buying an additional 345,647 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Align Technology by 4.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,623,458 shares of the medical equipment provider’s stock valued at $620,894,000 after acquiring an additional 113,277 shares during the period. Polen Capital Management LLC grew its position in shares of Align Technology by 3.6% during the third quarter. Polen Capital Management LLC now owns 1,988,038 shares of the medical equipment provider’s stock worth $411,743,000 after acquiring an additional 69,117 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Align Technology by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,549,279 shares of the medical equipment provider’s stock valued at $326,167,000 after acquiring an additional 37,047 shares during the period. Institutional investors and hedge funds own 84.90% of the company’s stock.

Align Technology Stock Performance

Align Technology stock opened at $320.87 on Thursday. The company’s 50 day simple moving average is $296.65 and its 200-day simple moving average is $240.49. Align Technology has a 1 year low of $172.05 and a 1 year high of $461.79. The company has a market capitalization of $24.58 billion, a price-to-earnings ratio of 69.60, a price-to-earnings-growth ratio of 3.06 and a beta of 1.60.

About Align Technology

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Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.