Align Technology (ALGN) Receives Positive Rating from Credit Suisse Group

Align Technology (NASDAQ:ALGN)‘s stock had its “positive” rating reiterated by equities researchers at Credit Suisse Group in a research note issued on Thursday, November 9th, The Fly reports. They currently have a $261.00 target price on the medical equipment provider’s stock, up from their previous target price of $209.00. Credit Suisse Group’s price target indicates a potential downside of 1.22% from the company’s previous close.

Several other brokerages also recently weighed in on ALGN. Leerink Swann restated an “outperform” rating and set a $250.00 target price on shares of Align Technology in a research note on Friday, October 27th. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target for the company in a research note on Monday, October 30th. Northcoast Research reiterated a “buy” rating and issued a $230.00 price target (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Stifel Nicolaus raised their target price on shares of Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $182.00 target price (up previously from $175.00) on shares of Align Technology in a report on Monday, July 17th. Eleven research analysts have rated the stock with a buy rating, Align Technology presently has an average rating of “Buy” and a consensus target price of $231.45.

Shares of Align Technology (ALGN) traded up $1.81 during trading on Thursday, hitting $264.23. The company’s stock had a trading volume of 1,018,251 shares, compared to its average volume of 1,002,597. Align Technology has a one year low of $88.56 and a one year high of $266.41. The stock has a market cap of $20,426.07, a price-to-earnings ratio of 75.37, a PEG ratio of 2.44 and a beta of 1.42.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.19. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The company had revenue of $385.30 million for the quarter, compared to analyst estimates of $359.80 million. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. equities research analysts expect that Align Technology will post 3.62 earnings per share for the current fiscal year.

In other Align Technology news, CMO Raphael Pascaud sold 5,400 shares of Align Technology stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $241.88, for a total value of $1,306,152.00. Following the transaction, the chief marketing officer now owns 22,228 shares in the company, valued at $5,376,508.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Greg J. Santora sold 7,700 shares of Align Technology stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $238.95, for a total transaction of $1,839,915.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,100 shares of company stock worth $4,414,067. 1.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Schroder Investment Management Group purchased a new position in Align Technology during the 2nd quarter worth approximately $104,000. CENTRAL TRUST Co grew its holdings in shares of Align Technology by 128.5% during the 2nd quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock valued at $105,000 after acquiring an additional 392 shares in the last quarter. Whittier Trust Co. purchased a new position in shares of Align Technology during the 3rd quarter valued at $107,000. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after acquiring an additional 105 shares in the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in shares of Align Technology during the 2nd quarter valued at $148,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

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About Align Technology

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.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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