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

Align Technology (NASDAQ:ALGN) had its price target raised by Stifel Nicolaus from $350.00 to $400.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

Several other research firms have also recently weighed in on ALGN. SVB Leerink initiated coverage on Align Technology in a research report on Monday, February 26th. They set a market perform rating and a $310.00 price objective for the company. Leerink Partnrs reissued a market perform rating on shares of Align Technology in a research report on Monday, February 26th. Piper Sandler increased 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. The Goldman Sachs Group increased 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. Finally, UBS Group increased their price target on Align Technology from $280.00 to $320.00 and gave the company a neutral rating in a research report on Monday. One 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 price target of $344.45.

Align Technology Price Performance

Shares of Align Technology stock opened at $301.34 on Thursday. The company has a market capitalization of $22.68 billion, a P/E ratio of 51.78, a price-to-earnings-growth ratio of 5.46 and a beta of 1.65. The business has a 50-day moving average of $312.73 and a two-hundred day moving average of $270.18. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. On average, equities analysts anticipate that Align Technology will post 7.69 EPS for the current fiscal year.

Insider Transactions at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Emory Wright sold 2,524 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the transaction, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,524 shares of company stock worth $8,403,924. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Align Technology

Hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new position in Align Technology during the 1st quarter worth $26,000. KB Financial Partners LLC bought a new position in Align Technology during the 1st quarter worth $26,000. Cornerstone Planning Group LLC acquired a new stake in shares of Align Technology in the 2nd quarter valued at $29,000. Huntington National Bank boosted its holdings in shares of Align Technology by 94.9% in the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 56 shares in the last quarter. Finally, First Manhattan CO. LLC. boosted its holdings in shares of Align Technology by 593.8% in the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 95 shares in the last quarter. 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.