Align Technology (NASDAQ:ALGN) Price Target Increased to $320.00 by Analysts at UBS Group

Align Technology (NASDAQ:ALGN) had its price target boosted by UBS Group from $280.00 to $320.00 in a research report report published on Monday, Benzinga reports. They currently have a neutral rating on the medical equipment provider’s stock.

Several other research analysts have also recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a sell rating in a report on Friday, February 2nd. Piper Sandler boosted their price target on shares of Align Technology from $335.00 to $355.00 and gave the stock an overweight rating in a report on Thursday, March 14th. Leerink Partnrs restated a market perform rating on shares of Align Technology in a report on Monday, February 26th. SVB Leerink started coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a market perform rating and a $310.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Align Technology from $340.00 to $350.00 and gave the company a buy rating in a research note on Friday, March 15th. 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. Based on data from MarketBeat, Align Technology currently has a consensus rating of Moderate Buy and a consensus target price of $339.91.

Align Technology Price Performance

NASDAQ:ALGN opened at $304.74 on Monday. The firm has a 50-day moving average of $311.97 and a 200-day moving average of $269.75. The company has a market cap of $22.93 billion, a PE ratio of 52.36, a PEG ratio of 5.67 and a beta of 1.65. Align Technology has a one year low of $176.34 and a one year high of $413.20.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The business had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. On average, equities research analysts expect that Align Technology will post 7.65 earnings per share for the current fiscal year.

Insider Activity at Align Technology

In related news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the transaction, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,524 shares of company stock worth $8,403,924. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Align Technology

Several large investors have recently added to or reduced their stakes in ALGN. KB Financial Partners LLC purchased a new position in Align Technology during the first quarter valued at approximately $26,000. Mather Group LLC. purchased a new position in shares of Align Technology in the first quarter worth $26,000. Cornerstone Planning Group LLC purchased a new position in shares of Align Technology in the second quarter worth $29,000. Huntington National Bank lifted its holdings in shares of Align Technology by 94.9% in the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 56 shares in the last quarter. Finally, First Manhattan CO. LLC. lifted its holdings in shares of Align Technology by 593.8% in the first quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

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.