Align Technology (NASDAQ:ALGN) PT Raised to $360.00 at Morgan Stanley

Align Technology (NASDAQ:ALGNFree Report) had its price target raised by Morgan Stanley from $344.00 to $360.00 in a research report sent to investors on Thursday, Benzinga reports. Morgan Stanley currently has an overweight rating on the medical equipment provider’s stock.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus raised their target price on Align Technology from $350.00 to $400.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Piper Sandler reissued an overweight rating and set a $375.00 target price (up previously from $355.00) on shares of Align Technology in a research report on Thursday. SVB Leerink assumed coverage on Align Technology in a research report on Monday, February 26th. They set a market perform rating and a $310.00 target price on the stock. Leerink Partnrs reissued a market perform rating on shares of Align Technology in a research report on Monday, February 26th. Finally, Robert W. Baird lifted their price target on Align Technology from $333.00 to $370.00 and gave the stock an outperform rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $353.00.

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Align Technology Price Performance

ALGN stock opened at $309.02 on Thursday. The firm has a market capitalization of $23.25 billion, a P/E ratio of 50.91, a P/E/G ratio of 5.53 and a beta of 1.65. The business’s 50-day moving average is $313.38 and its two-hundred day moving average is $270.82. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20.

Align Technology (NASDAQ:ALGNGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. The company had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. On average, analysts expect that Align Technology will post 7.69 EPS for the current year.

Insider Buying and Selling at Align Technology

In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,524 shares of company stock worth $8,403,924. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Align Technology

A number of institutional investors have recently modified their holdings of ALGN. Mather Group LLC. purchased a new stake in Align Technology during the first quarter worth $26,000. Huntington National Bank boosted 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 worth $35,000 after purchasing an additional 56 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Align Technology in the third quarter worth $61,000. Orion Capital Management LLC acquired a new position in shares of Align Technology in the third quarter worth $61,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Align Technology by 47.2% in the first quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock worth $61,000 after acquiring an additional 60 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Company Profile

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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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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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