Align Technology (NASDAQ:ALGN) Price Target Raised to $370.00

Align Technology (NASDAQ:ALGN) had its target price upped by analysts at Robert W. Baird from $333.00 to $370.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Robert W. Baird’s target price points to a potential upside of 17.92% from the company’s current price.

ALGN has been the subject of a number of other reports. Stifel Nicolaus raised their price target on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Piper Sandler lifted their target price on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. The Goldman Sachs Group upped their target price on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. Finally, UBS Group raised their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. 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. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and a consensus price target of $341.18.

Align Technology Price Performance

Shares of ALGN opened at $313.78 on Thursday. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20. The stock’s fifty day moving average price is $313.37 and its two-hundred day moving average price is $270.52. The firm has a market cap of $23.61 billion, a PE ratio of 53.91, a PEG ratio of 5.59 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data 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 business had revenue of $956.73 million for 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%. Sell-side analysts anticipate that Align Technology will post 7.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was 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 of the company’s stock, valued at $46,010,591.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 over the last three months. 0.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Align Technology

Large investors have recently modified their holdings of the stock. Premier Path Wealth Partners LLC bought a new stake in Align Technology during the 1st quarter valued at approximately $206,000. Simplicity Wealth LLC purchased a new position in shares of Align Technology in the 1st quarter valued at approximately $295,000. Assenagon Asset Management S.A. grew its stake in Align Technology by 6.7% in the first quarter. Assenagon Asset Management S.A. now owns 16,730 shares of the medical equipment provider’s stock worth $5,486,000 after purchasing an additional 1,048 shares during the period. Legacy Trust raised its holdings in Align Technology by 4.4% in the first quarter. Legacy Trust now owns 15,036 shares of the medical equipment provider’s stock worth $4,931,000 after purchasing an additional 629 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in shares of Align Technology by 47.3% during the 1st quarter. Summit Trail Advisors LLC now owns 1,398 shares of the medical equipment provider’s stock valued at $458,000 after buying an additional 449 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.