Align Technology Inc. (ALGN) Receives $91.44 Consensus PT from Brokerages
Shares of Align Technology Inc. (NASDAQ:ALGN) have been given a consensus rating of “Buy” by the twelve brokerages that are presently covering the firm. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $91.44.
Several research firms have weighed in on ALGN. Jefferies Group restated a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Align Technology in a report on Tuesday, November 8th. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Wednesday, November 9th. Stifel Nicolaus upped their price objective on shares of Align Technology from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Morgan Stanley set a $114.00 price objective on shares of Align Technology and gave the stock a “buy” rating in a report on Wednesday, October 19th. Finally, Robert W. Baird downgraded shares of Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 price objective on the stock. in a report on Monday, October 3rd.
Shares of Align Technology (NASDAQ:ALGN) opened at 90.22 on Thursday. The stock’s 50 day moving average is $89.43 and its 200-day moving average is $86.08. The firm has a market cap of $7.19 billion, a PE ratio of 38.56 and a beta of 1.33. Align Technology has a 1-year low of $57.31 and a 1-year high of $96.90.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Monday, November 7th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.11. Align Technology had a net margin of 18.78% and a return on equity of 21.09%. The firm had revenue of $278.60 million for the quarter, compared to the consensus estimate of $271.61 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The business’s revenue was up 34.3% on a year-over-year basis. Analysts expect that Align Technology will post $2.41 earnings per share for the current year.
In other Align Technology news, VP Jennifer Olson sold 799 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $93.30, for a total transaction of $74,546.70. Following the completion of the transaction, the vice president now owns 4,483 shares in the company, valued at $418,263.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas M. Prescott sold 33,125 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $90.60, for a total transaction of $3,001,125.00. Following the transaction, the director now owns 124,378 shares of the company’s stock, valued at approximately $11,268,646.80. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. raised its position in shares of Align Technology by 55.1% in the third quarter. Panagora Asset Management Inc. now owns 18,294 shares of the company’s stock worth $1,715,000 after buying an additional 6,498 shares in the last quarter. National Asset Management Inc. acquired a new position in shares of Align Technology during the third quarter worth $246,000. Riverpark Capital Management LLC raised its position in shares of Align Technology by 93.2% in the third quarter. Riverpark Capital Management LLC now owns 62,485 shares of the company’s stock worth $3,420,000 after buying an additional 30,148 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Align Technology during the third quarter worth $204,000. Finally, RiverPark Advisors LLC raised its position in shares of Align Technology by 123.8% in the third quarter. RiverPark Advisors LLC now owns 62,485 shares of the company’s stock worth $2,438,000 after buying an additional 34,561 shares in the last quarter. Hedge funds and other institutional investors own 86.27% 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 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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