Shares of Align Technology, Inc. (NASDAQ:ALGN) have earned a consensus rating of “Buy” from the sixteen brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $680.71.
A number of brokerages have weighed in on ALGN. William Blair reaffirmed an “outperform” rating on shares of Align Technology in a research note on Thursday, July 29th. BNP Paribas began coverage on shares of Align Technology in a research note on Thursday, July 8th. They set an “outperform” rating and a $790.00 target price for the company. Piper Sandler raised their price target on shares of Align Technology from $735.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. Stephens raised shares of Align Technology from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $600.00 to $700.00 in a research report on Friday, July 9th. Finally, Credit Suisse Group raised their price target on shares of Align Technology from $715.00 to $732.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th.
In other news, Director C Raymond Larkin, Jr. sold 2,500 shares of Align Technology stock in a transaction on Wednesday, July 14th. The shares were sold at an average price of $650.00, for a total transaction of $1,625,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director C Raymond Larkin, Jr. sold 5,000 shares of Align Technology stock in a transaction on Monday, June 28th. The stock was sold at an average price of $621.73, for a total transaction of $3,108,650.00. Following the transaction, the director now owns 26,210 shares in the company, valued at approximately $16,295,543.30. The disclosure for this sale can be found here. Insiders sold 27,186 shares of company stock worth $18,568,508 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
Shares of NASDAQ ALGN opened at $706.45 on Friday. Align Technology has a fifty-two week low of $297.44 and a fifty-two week high of $735.17. The company has a 50 day simple moving average of $677.46 and a two-hundred day simple moving average of $612.31. The company has a market capitalization of $55.82 billion, a price-to-earnings ratio of 80.46, a P/E/G ratio of 2.98 and a beta of 1.68.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Tuesday, July 27th. The medical equipment provider reported $3.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.91. Align Technology had a net margin of 20.10% and a return on equity of 21.42%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $942.26 million. As a group, research analysts forecast that Align Technology will post 9.1 earnings per share for the current year.
About Align Technology
Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of invisalign full, teen, and assist products, and vivera retainers for treating malocclusion.
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