Align Technology (NASDAQ:ALGN) Price Target Increased to $320.00 by Analysts at UBS Group

Align Technology (NASDAQ:ALGN) had its target price boosted by UBS Group from $280.00 to $320.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the medical equipment provider’s stock.

Several other equities research analysts also recently issued reports on the company. Stifel Nicolaus raised their price target on Align Technology from $340.00 to $350.00 and gave the company a buy rating in a research report on Friday, March 15th. Leerink Partnrs reaffirmed a market perform rating on shares of Align Technology in a research report on Monday, February 26th. SVB Leerink started 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. Piper Sandler raised their price target on Align Technology from $335.00 to $355.00 and gave the company an overweight rating in a research report on Thursday, March 14th. Finally, The Goldman Sachs Group raised their price target on Align Technology from $197.00 to $225.00 and gave the company a sell rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $339.91.

Align Technology Price Performance

Align Technology stock opened at $304.74 on Monday. The company has a market capitalization of $22.93 billion, a price-to-earnings ratio of 52.36, a PEG ratio of 5.67 and a beta of 1.65. Align Technology has a one year low of $176.34 and a one year high of $413.20. The company’s fifty day moving average price is $311.97 and its two-hundred day moving average price is $269.75.

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. The firm had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. As a group, sell-side analysts anticipate that Align Technology will post 7.65 earnings per share for the current year.

Insider Activity

In other news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the transaction, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the transaction, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on 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 transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,524 shares of company stock worth $8,403,924. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY raised its position in Align Technology by 0.7% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,202 shares of the medical equipment provider’s stock worth $886,000 after purchasing an additional 31 shares during the last quarter. Moody National Bank Trust Division grew its holdings in Align Technology by 1.8% during the 1st quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock worth $691,000 after acquiring an additional 38 shares during the period. EFG Asset Management Americas Corp. grew its holdings in Align Technology by 3.6% during the 4th quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock worth $320,000 after acquiring an additional 41 shares during the period. Dfpg Investments LLC grew its holdings in Align Technology by 3.3% during the 4th quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock worth $340,000 after acquiring an additional 42 shares during the period. Finally, Flagship Harbor Advisors LLC grew its holdings in Align Technology by 2.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider’s stock worth $517,000 after acquiring an additional 44 shares during the period. Institutional investors own 88.43% of the company’s stock.

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.