Align Technology Inc. (ALGN) PT Raised to $110.00 at Stifel Nicolaus
Align Technology Inc. (NASDAQ:ALGN) had its price target upped by investment analysts at Stifel Nicolaus from $95.00 to $110.00 in a report released on Monday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 15.17% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Robert W. Baird lowered shares of Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 price target for the company. in a research report on Monday, October 3rd. Morgan Stanley set a $114.00 price target on shares of Align Technology and gave the company a “buy” rating in a research report on Wednesday, October 19th. Zacks Investment Research lowered shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th. Finally, Jefferies Group restated a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Align Technology in a research report on Tuesday, November 8th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $91.18.
Align Technology (NASDAQ:ALGN) opened at 95.51 on Monday. Align Technology has a 12 month low of $57.31 and a 12 month high of $98.62. The company has a market cap of $7.61 billion, a P/E ratio of 40.82 and a beta of 1.33. The stock has a 50 day moving average of $90.31 and a 200-day moving average of $87.47.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Monday, November 7th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.11. The company earned $278.60 million during the quarter, compared to the consensus estimate of $271.61 million. Align Technology had a net margin of 18.78% and a return on equity of 21.09%. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. Equities research analysts expect that Align Technology will post $2.41 EPS for the current year.
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In other news, Director Warren S. Thaler sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $95.57, for a total value of $812,345.00. Following the completion of the transaction, the director now directly owns 42,400 shares in the company, valued at $4,052,168. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Olson sold 3,662 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $95.44, for a total transaction of $349,501.28. Following the completion of the transaction, the vice president now owns 8,145 shares of the company’s stock, valued at $777,358.80. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in ALGN. IFP Advisors Inc raised its position in Align Technology by 10.1% in the second quarter. IFP Advisors Inc now owns 1,260 shares of the company’s stock worth $101,000 after buying an additional 116 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Align Technology by 369.0% in the third quarter. Proficio Capital Partners LLC now owns 1,271 shares of the company’s stock worth $119,000 after buying an additional 1,000 shares in the last quarter. CWM LLC bought a new stake in shares of Align Technology during the second quarter worth $121,000. Advisor Group Inc. bought a new stake in shares of Align Technology during the second quarter worth $128,000. Finally, Mckinley Capital Management LLC Delaware bought a new stake in shares of Align Technology during the second quarter worth $147,000. Institutional investors own 87.95% of the company’s stock.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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