UBS Group Increases Align Technology (NASDAQ:ALGN) Price Target to $320.00

Align Technology (NASDAQ:ALGN) had its target price boosted by analysts at UBS Group from $280.00 to $320.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical equipment provider’s stock. UBS Group’s price objective indicates a potential upside of 2.26% from the stock’s previous close.

A number of other analysts also recently weighed in on ALGN. The Goldman Sachs Group increased their price target on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Stifel Nicolaus upped their target price on Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Piper Sandler boosted their target price on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, 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 price target for the company. One 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. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and a consensus target price of $339.91.

Align Technology Trading Down 0.6 %

Align Technology stock traded down $2.04 during mid-day trading on Monday, hitting $312.93. The stock had a trading volume of 118,638 shares, compared to its average volume of 753,330. The stock has a market capitalization of $23.55 billion, a PE ratio of 53.74, a P/E/G ratio of 5.67 and a beta of 1.65. The stock has a 50-day simple moving average of $311.38 and a two-hundred day simple moving average of $269.77. Align Technology has a 12 month low of $176.34 and a 12 month high of $413.20.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results 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 net margin of 11.52% and a return on equity of 13.88%. Sell-side analysts expect that Align Technology will post 7.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Align Technology

In other news, Director Joseph Lacob sold 15,000 shares of the company’s 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 completion of the transaction, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $203,802.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock worth $8,403,924 over the last quarter. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Align Technology

Large investors have recently bought and sold shares of the business. KB Financial Partners LLC bought a new stake in Align Technology during the first quarter worth approximately $26,000. Mather Group LLC. acquired a new stake in shares of Align Technology in the 1st quarter valued at $26,000. Cornerstone Planning Group LLC acquired a new position in shares of Align Technology during the 2nd quarter worth about $29,000. First Manhattan CO. LLC. lifted its position in shares of Align Technology by 593.8% during the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 95 shares during the last quarter. Finally, Huntington National Bank grew its stake 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 during the period. Institutional investors own 88.43% of the company’s stock.

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.