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

Align Technology (NASDAQ:ALGN) had its price objective upped by UBS Group from $280.00 to $320.00 in a research note published on Monday morning, Benzinga reports. They currently have a neutral rating on the medical equipment provider’s stock.

A number of other equities analysts have also recently commented on the company. The Goldman Sachs Group lifted their target price on Align Technology from $197.00 to $225.00 and gave the stock a sell rating in a report on Friday, February 2nd. Piper Sandler boosted their price objective on Align Technology from $335.00 to $355.00 and gave the company an overweight rating in a report on Thursday, March 14th. SVB Leerink began coverage on Align Technology in a report on Monday, February 26th. They set a market perform rating and a $310.00 price objective for the company. Leerink Partnrs restated a market perform rating on shares of Align Technology in a report on Monday, February 26th. Finally, Stifel Nicolaus boosted their price objective on Align Technology from $340.00 to $350.00 and gave the company a buy rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $339.91.

Align Technology Stock Performance

Shares of Align Technology stock opened at $300.14 on Monday. The stock has a market cap of $22.59 billion, a price-to-earnings ratio of 51.57, a price-to-earnings-growth ratio of 5.49 and a beta of 1.65. The stock has a 50 day moving average price of $312.61 and a 200-day moving average price of $269.97. Align Technology has a one year low of $176.34 and a one year high of $413.20.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. The firm 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%. Sell-side analysts predict that Align Technology will post 7.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of the business’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 transaction, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,524 shares of company stock worth $8,403,924. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. KB Financial Partners LLC bought a new position in shares of Align Technology in the 1st quarter worth $26,000. Mather Group LLC. acquired a new position in Align Technology during the 1st quarter valued at about $26,000. Cornerstone Planning Group LLC acquired a new position in Align Technology during the 2nd quarter valued at about $29,000. First Manhattan CO. LLC. increased its position in Align Technology by 593.8% during the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 95 shares in the last quarter. Finally, Huntington National Bank increased its position in Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 56 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

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.