Align Technology (NASDAQ:ALGN) PT Raised to $400.00 at Stifel Nicolaus

Align Technology (NASDAQ:ALGN) had its price objective boosted by Stifel Nicolaus from $350.00 to $400.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 33.79% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. SVB Leerink initiated coverage on shares of Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price objective on the stock. UBS Group upped their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Piper Sandler upped their price objective 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. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $344.45.

Align Technology Trading Down 0.8 %

Shares of ALGN opened at $298.98 on Thursday. The company has a market cap of $22.50 billion, a price-to-earnings ratio of 51.37, a PEG ratio of 5.37 and a beta of 1.65. Align Technology has a 1-year low of $176.34 and a 1-year high of $413.20. The company’s fifty day simple moving average is $312.79 and its 200 day simple moving average is $270.18.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. The business 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, research analysts forecast that Align Technology will post 7.69 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Lacob sold 15,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated 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 directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock valued at $8,403,924 over the last quarter. 0.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. KB Financial Partners LLC acquired a new position in shares of Align Technology in the first quarter valued at approximately $26,000. Mather Group LLC. acquired a new position in shares of Align Technology in the first quarter valued at approximately $26,000. Cornerstone Planning Group LLC acquired a new position in shares of Align Technology in the second quarter valued at approximately $29,000. First Manhattan CO. LLC. increased its stake in shares of Align Technology by 593.8% in 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 period. Finally, Huntington National Bank increased its stake in shares of Align Technology by 94.9% in the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 56 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.