Align Technology, Inc. (ALGN) Price Target Raised to $265.00 at Stifel Nicolaus

Align Technology, Inc. (NASDAQ:ALGN) had its price target lifted by Stifel Nicolaus from $245.00 to $265.00 in a research note released on Tuesday morning. They currently have a buy rating on the medical equipment provider’s stock.

Other equities research analysts have also issued reports about the company. Northcoast Research reiterated a buy rating and issued a $230.00 price objective (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Credit Suisse Group reissued a positive rating and issued a $261.00 target price (up from $209.00) on shares of Align Technology in a report on Thursday, November 9th. Bank of America Corporation raised Align Technology from a neutral rating to a buy rating and boosted their target price for the stock from $175.00 to $193.00 in a report on Friday, July 28th. Zacks Investment Research raised Align Technology from a hold rating to a buy rating and set a $227.00 target price on the stock in a report on Monday, October 30th. Finally, Robert W. Baird reissued a buy rating on shares of Align Technology in a report on Tuesday, September 12th. Eleven investment analysts have rated the stock with a buy rating, Align Technology presently has an average rating of Buy and a consensus price target of $222.82.

Shares of Align Technology (NASDAQ:ALGN) opened at $256.43 on Tuesday. Align Technology has a 12-month low of $88.56 and a 12-month high of $258.88. The firm has a market capitalization of $20,486.20, a PE ratio of 75.60, a price-to-earnings-growth ratio of 2.44 and a beta of 1.42.

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

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In other Align Technology news, Director Greg J. Santora sold 7,700 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,306,152.00. Following the completion of the sale, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at approximately $5,376,508.64. The disclosure for this sale can be found here. Insiders have sold a total of 16,600 shares of company stock valued at $4,031,567 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Honkamp Krueger Financial Services Inc. increased its position in shares of Align Technology by 1.7% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock valued at $306,000 after buying an additional 34 shares in the last quarter. Buckingham Asset Management LLC increased its position in shares of Align Technology by 3.3% in the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock valued at $279,000 after buying an additional 59 shares in the last quarter. Security Asset Management increased its position in shares of Align Technology by 0.5% in the 2nd quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock valued at $1,912,000 after buying an additional 65 shares in the last quarter. BB&T Securities LLC increased its position in shares of Align Technology by 3.5% in the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock valued at $413,000 after buying an additional 94 shares in the last quarter. Finally, Wrapmanager Inc. increased its holdings in Align Technology by 2.6% during the 2nd quarter. Wrapmanager Inc. now owns 3,835 shares of the medical equipment provider’s stock worth $576,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

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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