Align Technology (NASDAQ:ALGN) PT Raised to $360.00 at Morgan Stanley

Align Technology (NASDAQ:ALGN) had its target price upped by investment analysts at Morgan Stanley from $344.00 to $360.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 16.50% from the company’s current price.

ALGN has been the subject of a number of other research reports. SVB Leerink started coverage on shares of Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research note on Friday, February 2nd. Robert W. Baird upped their target price on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday. Stifel Nicolaus upped their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $341.36.

Align Technology Stock Down 0.5 %

ALGN opened at $309.02 on Thursday. Align Technology has a 12 month low of $176.34 and a 12 month high of $413.20. The company has a fifty day simple moving average of $313.38 and a 200 day simple moving average of $270.98. The stock has a market cap of $23.25 billion, a P/E ratio of 50.91, a P/E/G ratio of 5.62 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.80% and a return on equity of 14.22%. The business had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. On average, equities research analysts expect that Align Technology will post 7.69 earnings per share for the current fiscal year.

Insider Transactions at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph Lacob sold 15,000 shares of the company’s 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 sale, the director now directly owns 131,994 shares in the company, valued at $40,023,220.68. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock worth $8,403,924 in the last three months. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Align Technology

A number of institutional investors and hedge funds have recently modified their holdings of ALGN. Mather Group LLC. bought a new stake in shares of Align Technology in the 1st quarter valued at about $26,000. Huntington National Bank raised its holdings in shares of Align Technology by 94.9% in the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 56 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in shares of Align Technology in the 3rd quarter valued at about $61,000. Orion Capital Management LLC bought a new stake in shares of Align Technology in the 3rd quarter valued at about $61,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Align Technology by 47.2% in the 1st quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 60 shares during the period. 88.43% of the stock is owned by institutional investors.

About Align Technology

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.