Align Technology (NASDAQ:ALGN) Given New $400.00 Price Target at Stifel Nicolaus

Align Technology (NASDAQ:ALGN) had its target price hoisted by stock analysts at Stifel Nicolaus from $350.00 to $400.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 32.14% from the company’s previous close.

ALGN has been the subject of a number of other research reports. Piper Sandler increased their target price on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. UBS Group increased their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday. The Goldman Sachs Group increased their price target on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. Finally, SVB Leerink began coverage on Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $344.45.

Align Technology Trading Up 0.9 %

NASDAQ:ALGN traded up $2.56 on Thursday, reaching $302.70. 180,658 shares of the stock traded hands, compared to its average volume of 745,791. The firm has a market capitalization of $22.78 billion, a price-to-earnings ratio of 52.02, a price-to-earnings-growth ratio of 5.46 and a beta of 1.65. The company’s 50 day moving average is $312.61 and its 200-day moving average is $269.97. Align Technology has a 1-year low of $176.34 and a 1-year high of $413.20.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. The business had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. On average, equities research analysts forecast that Align Technology will post 7.69 EPS for the current fiscal year.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the transaction, the director now directly owns 146,994 shares in the company, valued at approximately $46,010,591.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,524 shares of company stock worth $8,403,924. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Align Technology

Several large investors have recently made changes to their positions in ALGN. Raymond James Trust N.A. increased its holdings in Align Technology by 39.4% in the 1st quarter. Raymond James Trust N.A. now owns 934 shares of the medical equipment provider’s stock worth $407,000 after acquiring an additional 264 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Align Technology by 11.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical equipment provider’s stock worth $78,911,000 after acquiring an additional 18,153 shares during the last quarter. Prudential PLC purchased a new stake in Align Technology in the 1st quarter worth about $955,000. Cetera Investment Advisers increased its holdings in Align Technology by 4.9% in the 1st quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock worth $747,000 after acquiring an additional 80 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Align Technology by 17.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical equipment provider’s stock worth $229,000 after acquiring an additional 77 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.