Align Technology, Inc. (NASDAQ:ALGN) has earned a consensus recommendation of “Buy” from the nineteen ratings firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $349.23.
Several research analysts have weighed in on the company. Barclays restated a “buy” rating on shares of Align Technology in a research note on Thursday, July 26th. Leerink Swann upped their price target on Align Technology from $305.00 to $360.00 and gave the stock an “outperform” rating in a research note on Thursday, May 24th. Northcoast Research restated a “buy” rating and issued a $430.00 price target on shares of Align Technology in a research note on Tuesday, June 26th. Stifel Nicolaus upped their price target on Align Technology from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, July 13th. Finally, Jefferies Financial Group upped their price objective on Align Technology to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 24th.
In related news, SVP Stuart A. Hockridge sold 2,753 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $366.73, for a total transaction of $1,009,607.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $382.00, for a total value of $3,820,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 55,648 shares of company stock worth $20,577,327 over the last ninety days. Insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Sapphire Star Partners LP purchased a new stake in Align Technology during the 2nd quarter valued at $237,000. Wedbush Securities Inc. purchased a new stake in Align Technology during the 2nd quarter valued at $247,000. Palo Alto Investors LP raised its holdings in Align Technology by 2.9% during the 1st quarter. Palo Alto Investors LP now owns 218,707 shares of the medical equipment provider’s stock valued at $54,924,000 after buying an additional 6,200 shares during the period. CIBC Asset Management Inc raised its holdings in Align Technology by 4.7% during the 2nd quarter. CIBC Asset Management Inc now owns 10,093 shares of the medical equipment provider’s stock valued at $3,453,000 after buying an additional 456 shares during the period. Finally, Nicolet Bankshares Inc. purchased a new stake in Align Technology during the 2nd quarter valued at $222,000. Institutional investors own 78.65% of the company’s stock.
ALGN stock traded down $2.09 during midday trading on Friday, hitting $370.82. The company’s stock had a trading volume of 671,261 shares, compared to its average volume of 988,663. Align Technology has a 12 month low of $174.44 and a 12 month high of $392.69. The company has a market capitalization of $31.04 billion, a price-to-earnings ratio of 95.33, a PEG ratio of 2.58 and a beta of 1.53.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.21. Align Technology had a return on equity of 32.61% and a net margin of 17.00%. The business had revenue of $490.26 million during the quarter, compared to the consensus estimate of $472.10 million. During the same period in the prior year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 37.5% compared to the same quarter last year. equities analysts predict that Align Technology will post 4.97 EPS for the current fiscal year.
About Align Technology
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
Recommended Story: Stock Symbols Definition, Examples, Lookup
Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.