Align Technology, Inc. (NASDAQ:ALGN)‘s stock had its “positive” rating reaffirmed by stock analysts at Credit Suisse Group in a research report issued to clients and investors on Thursday, November 9th, The Fly reports. They presently have a $261.00 price target on the medical equipment provider’s stock, up from their prior price target of $209.00. Credit Suisse Group’s price target points to a potential upside of 1.78% from the company’s current price.
Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target for the company in a report on Monday, October 30th. Leerink Swann restated an “outperform” rating and issued a $250.00 target price on shares of Align Technology in a report on Friday, October 27th. Robert W. Baird reiterated a “buy” rating and issued a $245.00 price target on shares of Align Technology in a research report on Friday, October 27th. Stifel Nicolaus upped their price objective on shares of Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Finally, Northcoast Research restated a “buy” rating and set a $230.00 price objective (up previously from $200.00) on shares of Align Technology in a research report on Tuesday, October 10th. Eleven analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $222.82.
Align Technology (NASDAQ:ALGN) opened at $256.43 on Thursday. Align Technology has a 52 week low of $88.56 and a 52 week high of $258.88. The company has a market cap of $20,486.20, a PE ratio of 75.60, a price-to-earnings-growth ratio of 2.44 and a beta of 1.42.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.19. The business had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The business’s revenue was up 38.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. analysts predict that Align Technology will post 3.62 EPS for the current fiscal year.
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In related news, Director Greg J. Santora sold 7,700 shares of Align Technology stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $238.95, for a total value of $1,839,915.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Raphael Pascaud sold 5,400 shares of Align Technology stock in a transaction dated 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 directly owns 22,228 shares in the company, valued at approximately $5,376,508.64. The disclosure for this sale can be found here. Insiders have sold 16,600 shares of company stock valued at $4,031,567 in the last three months. Corporate insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schroder Investment Management Group bought a new stake in shares of Align Technology in the 2nd quarter valued at approximately $104,000. CENTRAL TRUST Co lifted its holdings in Align Technology by 128.5% in the 2nd quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after purchasing an additional 392 shares during the last quarter. Whittier Trust Co. acquired a new stake in Align Technology in the 3rd quarter worth approximately $107,000. Bronfman E.L. Rothschild L.P. lifted its holdings in Align Technology by 13.0% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 105 shares during the last quarter. Finally, BlueMountain Capital Management LLC acquired a new stake in Align Technology in the 2nd quarter worth approximately $148,000. 80.74% of the stock is owned by institutional investors and hedge funds.
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.
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