Align Technology Inc. (ALGN) Rating Reiterated by Jefferies Group
Align Technology Inc. (NASDAQ:ALGN)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group in a report issued on Tuesday. They presently have a $105.00 price objective on the stock, up from their prior price objective of $100.00. Jefferies Group’s price target points to a potential upside of 15.54% from the stock’s previous close.
Other analysts also recently issued research reports about the company. Stifel Nicolaus lifted their price target on Align Technology from $82.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “strong-buy” rating and set a $97.00 target price for the company in a research report on Wednesday, July 13th. Morgan Stanley set a $114.00 target price on Align Technology and gave the stock a “buy” rating in a research report on Wednesday, October 19th. Finally, Robert W. Baird downgraded Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 target price for the company. in a research report on Monday, October 3rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Align Technology has an average rating of “Buy” and an average price target of $89.82.
Shares of Align Technology (NASDAQ:ALGN) opened at 90.88 on Tuesday. Align Technology has a 12 month low of $57.31 and a 12 month high of $96.90. The stock has a 50 day moving average of $89.79 and a 200-day moving average of $85.64. The company has a market cap of $7.27 billion, a PE ratio of 44.33 and a beta of 1.33.
Align Technology (NASDAQ:ALGN) last issued its earnings results on Monday, November 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.52 by $0.11. Align Technology had a return on equity of 21.62% and a net margin of 18.78%. The business earned $278.60 million during the quarter, compared to the consensus estimate of $271.61 million. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue was up 34.3% compared to the same quarter last year. Equities analysts forecast that Align Technology will post $2.29 earnings per share for the current year.
In other news, VP Zelko Relic sold 13,577 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $95.91, for a total transaction of $1,302,170.07. Following the transaction, the vice president now directly owns 1,375 shares of the company’s stock, valued at $131,876.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer Olson sold 799 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $93.30, for a total value of $74,546.70. Following the transaction, the vice president now directly owns 4,483 shares in the company, valued at $418,263.90. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Align Technology by 7.8% in the second quarter. Vanguard Group Inc. now owns 5,552,971 shares of the company’s stock valued at $447,292,000 after buying an additional 401,560 shares during the period. BlackRock Fund Advisors boosted its stake in Align Technology by 6.5% in the third quarter. BlackRock Fund Advisors now owns 2,799,603 shares of the company’s stock worth $262,463,000 after buying an additional 171,338 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Align Technology by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,222,362 shares of the company’s stock worth $179,011,000 after buying an additional 40,594 shares during the last quarter. State Street Corp boosted its stake in shares of Align Technology by 0.7% in the second quarter. State Street Corp now owns 2,054,677 shares of the company’s stock worth $165,504,000 after buying an additional 13,966 shares during the last quarter. Finally, Polen Capital Management LLC boosted its stake in shares of Align Technology by 11.3% in the second quarter. Polen Capital Management LLC now owns 1,670,121 shares of the company’s stock worth $134,528,000 after buying an additional 169,516 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and 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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