Align Technology Inc. (ALGN) Price Target Increased to $110.00 by Analysts at Stifel Nicolaus
A number of other equities analysts have also issued reports on the stock. Robert W. Baird lowered shares of Align Technology from an outperform rating to a neutral rating and set a $96.00 target price on the stock. in a research report on Monday, October 3rd. Zacks Investment Research lowered shares of Align Technology from a buy rating to a hold rating in a research report on Wednesday, October 12th. Morgan Stanley set a $114.00 target price on shares of Align Technology and gave the stock a buy rating in a research report on Wednesday, October 19th. Finally, Jefferies Group restated a buy rating and set a $105.00 target price (up from $100.00) on shares of Align Technology in a research report on Tuesday, November 8th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $91.18.
Align Technology (NASDAQ:ALGN) opened at 95.34 on Monday. The firm’s 50-day moving average is $90.31 and its 200-day moving average is $87.47. Align Technology has a 52-week low of $57.31 and a 52-week high of $98.62. The firm has a market capitalization of $7.60 billion, a PE ratio of 40.74 and a beta of 1.33.
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 analysts’ consensus estimates of $0.52 by $0.11. Align Technology had a net margin of 18.78% and a return on equity of 21.09%. The company had revenue of $278.60 million for the quarter, compared to analysts’ expectations of $271.61 million. During the same quarter last year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. On average, analysts anticipate that Align Technology will post $2.41 earnings per share for the current year.
In related news, CFO David L. White sold 11,152 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $95.53, for a total value of $1,065,350.56. Following the completion of the transaction, the chief financial officer now owns 9,473 shares of the company’s stock, valued at approximately $904,955.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas M. Prescott sold 33,125 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $90.60, for a total transaction of $3,001,125.00. Following the completion of the transaction, the director now directly 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. 2.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ETRADE Capital Management LLC purchased a new position in shares of Align Technology during the third quarter valued at $240,000. D.A. Davidson & CO. increased its position in shares of Align Technology by 204.3% in the third quarter. D.A. Davidson & CO. now owns 5,000 shares of the company’s stock valued at $468,000 after buying an additional 3,357 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Align Technology during the third quarter valued at $452,000. Marvin & Palmer Associates Inc. purchased a new position in shares of Align Technology during the third quarter valued at $2,242,000. Finally, Peloton Wealth Strategists purchased a new position in shares of Align Technology during the third quarter valued at $1,673,000. 87.95% of the stock is owned by hedge funds and other institutional investors.
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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