Analysts Set Align Technology, Inc. (ALGN) Target Price at $340.07

Shares of Align Technology, Inc. (NASDAQ:ALGN) have been given an average rating of “Buy” by the nineteen analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $340.07.

Several brokerages have recently weighed in on ALGN. BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Leerink Swann lowered their target price on Align Technology from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Wednesday, January 30th. They noted that the move was a valuation call. UBS Group began coverage on Align Technology in a report on Thursday, January 17th. They set a “buy” rating and a $230.00 target price on the stock. Piper Jaffray Companies boosted their target price on Align Technology from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, Guggenheim assumed coverage on Align Technology in a report on Wednesday, April 17th. They set a “buy” rating and a $335.00 target price on the stock.

In other news, Director Yuval Shaked sold 400 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $255.52, for a total transaction of $102,208.00. Following the sale, the director now owns 24 shares of the company’s stock, valued at $6,132.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Julie Tay sold 3,560 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $325.00, for a total value of $1,157,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 23,960 shares of company stock worth $6,425,408. 1.30% of the stock is owned by corporate insiders.



Several institutional investors have recently bought and sold shares of ALGN. JPMorgan Chase & Co. raised its holdings in shares of Align Technology by 47.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 216,832 shares of the medical equipment provider’s stock valued at $84,830,000 after buying an additional 69,997 shares in the last quarter. Teachers Advisors LLC grew its position in Align Technology by 15.3% during the 3rd quarter. Teachers Advisors LLC now owns 246,716 shares of the medical equipment provider’s stock worth $96,520,000 after acquiring an additional 32,650 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Align Technology by 22.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 480,391 shares of the medical equipment provider’s stock worth $187,939,000 after acquiring an additional 88,731 shares during the last quarter. Legal & General Group Plc grew its position in Align Technology by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 359,786 shares of the medical equipment provider’s stock worth $140,770,000 after acquiring an additional 5,229 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Align Technology by 257.2% during the 4th quarter. Retirement Systems of Alabama now owns 120,407 shares of the medical equipment provider’s stock worth $25,217,000 after acquiring an additional 86,700 shares during the last quarter. 82.62% of the stock is currently owned by institutional investors and hedge funds.

ALGN stock traded up $11.54 during trading on Thursday, hitting $321.69. The stock had a trading volume of 75,081 shares, compared to its average volume of 1,372,423. Align Technology has a twelve month low of $177.93 and a twelve month high of $398.88. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 65.49, a PEG ratio of 2.59 and a beta of 2.14.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The company had revenue of $549.00 million for the quarter, compared to analysts’ expectations of $532.16 million. During the same period in the previous year, the firm posted $1.17 EPS. Align Technology’s revenue was up 25.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Align Technology will post 5.33 earnings per share for the current fiscal year.

About Align Technology

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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