Analysts’ Recent Ratings Changes for Align Technology (ALGN)

Align Technology (NASDAQ: ALGN) has recently received a number of price target changes and ratings updates:

• 4/25/2024 – Align Technology had its price target raised by analysts at Morgan Stanley from $344.00 to $360.00. They now have an “overweight” rating on the stock.
• 4/25/2024 – Align Technology had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $375.00 price target on the stock, up previously from $355.00.
• 4/25/2024 – Align Technology had its price target raised by analysts at Robert W. Baird from $333.00 to $370.00. They now have an “outperform” rating on the stock.
• 4/18/2024 – Align Technology had its price target raised by analysts at Stifel Nicolaus from $350.00 to $400.00. They now have a “buy” rating on the stock.
• 4/15/2024 – Align Technology had its price target raised by analysts at UBS Group AG from $280.00 to $320.00. They now have a “neutral” rating on the stock.
• 3/15/2024 – Align Technology had its price target raised by analysts at Stifel Nicolaus from $340.00 to $350.00. They now have a “buy” rating on the stock.
• 3/14/2024 – Align Technology had its price target raised by analysts at Piper Sandler from $335.00 to $355.00. They now have an “overweight” rating on the stock.

Align Technology Stock Up 0.8 %

ALGN opened at $284.52 on Thursday. The firm has a market capitalization of $21.41 billion, a P/E ratio of 46.87, a price-to-earnings-growth ratio of 5.65 and a beta of 1.65. The stock’s 50 day moving average price is $312.28 and its two-hundred day moving average price is $271.29. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. As a group, analysts anticipate that Align Technology, Inc. will post 7.85 earnings per share for the current year.

Insider Buying and Selling at Align Technology

In other news, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Lacob sold 15,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Emory Wright sold 2,524 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock valued at $8,403,924 in the last 90 days. 0.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Align Technology

A number of hedge funds have recently made changes to their positions in ALGN. Deepwater Asset Management LLC increased its position in shares of Align Technology by 46.8% during the 4th quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock worth $13,421,000 after purchasing an additional 15,608 shares in the last quarter. London & Capital Asset Management Ltd increased its position in shares of Align Technology by 7.1% during the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock worth $15,899,000 after purchasing an additional 3,843 shares in the last quarter. Morgan Stanley increased its position in shares of Align Technology by 9.8% during the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after purchasing an additional 90,581 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Align Technology by 20.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 33,344 shares of the medical equipment provider’s stock worth $9,136,000 after purchasing an additional 5,759 shares in the last quarter. Finally, Country Trust Bank increased its position in shares of Align Technology by 27.7% during the 4th quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock worth $22,147,000 after purchasing an additional 17,515 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

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.