Brokerages Set Align Technology, Inc. (NASDAQ:ALGN) Target Price at $334.45

Align Technology, Inc. (NASDAQ:ALGNGet Free Report) has been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $334.45.

A number of research analysts recently weighed in on ALGN shares. UBS Group lifted their price objective on shares of Align Technology from $200.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. The Goldman Sachs Group raised their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. Piper Sandler raised their price target on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Stifel Nicolaus raised their price target on shares of Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, SVB Leerink started coverage on shares of Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target for the company.

View Our Latest Research Report on Align Technology

Insider Transactions at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, 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 transaction, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,524 shares of company stock worth $8,403,924. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALGN. KB Financial Partners LLC bought a new position in Align Technology during the first quarter valued at approximately $26,000. Cornerstone Planning Group LLC bought a new position in Align Technology during the second quarter valued at approximately $29,000. Huntington National Bank lifted its position in Align Technology by 94.9% during the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 56 shares during the period. First Manhattan CO. LLC. increased its holdings in Align Technology by 593.8% during the first quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 95 shares during the last quarter. Finally, ST Germain D J Co. Inc. purchased a new stake in Align Technology during the second quarter valued at approximately $44,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Up 2.5 %

Shares of ALGN stock opened at $327.90 on Monday. The company has a 50 day moving average of $297.09 and a 200-day moving average of $269.20. Align Technology has a 12-month low of $176.34 and a 12-month high of $413.20. The firm has a market cap of $24.63 billion, a P/E ratio of 56.34, a PEG ratio of 5.75 and a beta of 1.65.

Align Technology (NASDAQ:ALGNGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (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 company had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. As a group, equities analysts expect that Align Technology will post 7.65 EPS for the current year.

About Align Technology

(Get Free Report

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.

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