Align Technology’s (ALGN) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Align Technology (NASDAQ:ALGN) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $375.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $355.00.

Several other equities research analysts have also commented on the company. Robert W. Baird boosted their price objective on Align Technology from $333.00 to $370.00 and gave the stock an outperform rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on Align Technology from $197.00 to $225.00 and gave the stock a sell rating in a research note on Friday, February 2nd. UBS Group increased their price objective on Align Technology from $280.00 to $320.00 and gave the company a neutral rating in a research note on Monday, April 15th. Leerink Partnrs reaffirmed a market perform rating on shares of Align Technology in a research note on Monday, February 26th. Finally, SVB Leerink assumed coverage on shares of Align Technology in a report on Monday, February 26th. They set a market perform rating and a $310.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $353.00.

Align Technology Stock Down 0.5 %

ALGN stock opened at $309.02 on Thursday. The company’s 50-day simple moving average is $313.38 and its 200-day simple moving average is $270.87. Align Technology has a 52-week low of $176.34 and a 52-week high of $413.20. The firm has a market cap of $23.25 billion, a P/E ratio of 50.91, a PEG ratio of 5.56 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted its 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 11.80% and a return on equity of 14.15%. The business had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. On average, analysts anticipate that Align Technology will post 7.69 earnings per share for the current fiscal year.

Insider Transactions at Align Technology

In other news, Director Joseph Lacob sold 15,000 shares of the firm’s 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 transaction, the director now directly owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the transaction, the director now directly owns 131,994 shares in the company, valued at $40,023,220.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,524 shares of company stock valued at $8,403,924. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Align Technology

A number of institutional investors have recently bought and sold shares of the company. Moody National Bank Trust Division raised its stake in Align Technology by 1.8% during the first quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock worth $691,000 after purchasing an additional 38 shares during the period. EFG Asset Management Americas Corp. increased its position in shares of Align Technology by 3.6% during the fourth quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock valued at $320,000 after acquiring an additional 41 shares during the last quarter. Dfpg Investments LLC increased its position in shares of Align Technology by 3.3% during the fourth quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock valued at $340,000 after acquiring an additional 42 shares during the last quarter. Richard W. Paul & Associates LLC increased its position in shares of Align Technology by 2.8% during the fourth quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock valued at $457,000 after acquiring an additional 45 shares during the last quarter. Finally, Valley National Advisers Inc. increased its position in shares of Align Technology by 29.7% during the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after acquiring an additional 49 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

About Align Technology

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.