Deutsche Bank initiated coverage on shares of Align Technology (NASDAQ:ALGN) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $250.00 price objective on the medical equipment provider’s stock.

ALGN has been the subject of a number of other reports. Credit Suisse Group restated an outperform rating and issued a $276.00 price objective (up from $261.00) on shares of Align Technology in a report on Tuesday, November 28th. Robert W. Baird restated a buy rating and issued a $290.00 price objective on shares of Align Technology in a report on Wednesday, November 29th. Stifel Nicolaus boosted their price objective on shares of Align Technology from $245.00 to $265.00 and gave the stock a buy rating in a report on Tuesday, November 21st. Morgan Stanley boosted their price objective on shares of Align Technology from $257.00 to $300.00 and gave the stock an overweight rating in a report on Monday, November 27th. Finally, Zacks Investment Research upgraded shares of Align Technology from a hold rating to a buy rating and set a $227.00 price objective for the company in a report on Monday, October 30th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $236.75.

Align Technology (NASDAQ:ALGN) traded down $2.95 during mid-day trading on Friday, reaching $238.43. 1,004,200 shares of the company’s stock were exchanged, compared to its average volume of 1,024,627. Align Technology has a fifty-two week low of $88.56 and a fifty-two week high of $266.41. The stock has a market cap of $19,116.77, a PE ratio of 70.54, a PEG ratio of 2.28 and a beta of 1.43.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The business had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $359.80 million. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. analysts anticipate that Align Technology will post 3.62 earnings per share for the current year.

In other Align Technology news, CMO Raphael Pascaud sold 5,400 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief marketing officer now directly owns 22,228 shares in the company, valued at approximately $5,376,508.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Emory Wright sold 5,025 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the completion of the transaction, the vice president now owns 80,762 shares of the company’s stock, valued at $21,295,324.16. The disclosure for this sale can be found here. Insiders have sold a total of 52,849 shares of company stock valued at $13,494,348 over the last quarter. 1.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Align Technology by 16.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after purchasing an additional 1,034,254 shares in the last quarter. Polen Capital Management LLC grew its position in shares of Align Technology by 6.8% in the 2nd quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock worth $504,789,000 after buying an additional 212,773 shares during the period. State Street Corp grew its position in shares of Align Technology by 32.2% in the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after buying an additional 765,189 shares during the period. Bank of New York Mellon Corp grew its position in shares of Align Technology by 2.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,946,097 shares of the medical equipment provider’s stock worth $362,499,000 after buying an additional 42,570 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Align Technology by 11.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock worth $238,343,000 after buying an additional 160,881 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

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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.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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