Align Technology, Inc. (ALGN) Given New $210.00 Price Target at Goldman Sachs Group, Inc. (The)

Align Technology, Inc. (NASDAQ:ALGN) had its price target upped by Goldman Sachs Group, Inc. (The) from $185.00 to $210.00 in a research note issued to investors on Friday. Goldman Sachs Group, Inc. (The) currently has a buy rating on the medical equipment provider’s stock.

Other research analysts have also issued research reports about the company. Morgan Stanley reissued an overweight rating and set a $182.00 price target (up previously from $175.00) on shares of Align Technology in a research note on Monday, July 17th. Stifel Nicolaus reissued a buy rating and set a $205.00 price target (up previously from $200.00) on shares of Align Technology in a research note on Monday, August 7th. Credit Suisse Group reissued an outperform rating and set a $170.00 price target (up previously from $140.00) on shares of Align Technology in a research note on Thursday, July 13th. Robert W. Baird reissued a buy rating on shares of Align Technology in a research note on Tuesday, September 12th. Finally, Jefferies Group LLC reissued a buy rating and set a $150.00 price target on shares of Align Technology in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $179.82.

Shares of Align Technology (ALGN) opened at 188.34 on Friday. The firm’s 50-day moving average price is $175.65 and its 200 day moving average price is $144.65. The firm has a market cap of $15.10 billion, a PE ratio of 64.50 and a beta of 1.55. Align Technology has a 1-year low of $83.27 and a 1-year high of $188.97.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The company had revenue of $356.50 million for the quarter, compared to analyst estimates of $343.43 million. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 32.3% compared to the same quarter last year. On average, equities research analysts forecast that Align Technology will post $3.40 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. increased its holdings in shares of Align Technology by 1.7% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock worth $306,000 after buying an additional 34 shares during the last quarter. Buckingham Asset Management LLC increased its holdings in shares of Align Technology by 3.3% during the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock worth $279,000 after buying an additional 59 shares during the last quarter. Security Asset Management increased its holdings in shares of Align Technology by 0.5% during the 2nd quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock worth $1,912,000 after buying an additional 65 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Align Technology by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock worth $121,000 after buying an additional 68 shares during the last quarter. Finally, BB&T Securities LLC increased its holdings in shares of Align Technology by 3.5% during the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock worth $413,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 81.57% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/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.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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