Piper Jaffray Companies Raises Align Technology (ALGN) Price Target to $300.00

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Align Technology (NASDAQ:ALGN) had its target price boosted by Piper Jaffray Companies from $250.00 to $300.00 in a research note published on Tuesday morning, The Fly reports. They currently have an overweight rating on the medical equipment provider’s stock.

Other equities analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Align Technology from a sell rating to a hold rating in a research report on Saturday, January 19th. Morgan Stanley decreased their target price on shares of Align Technology from $300.00 to $210.00 and set an equal weight rating for the company in a research note on Friday, January 4th. Barclays reissued a buy rating and set a $275.00 target price on shares of Align Technology in a research note on Sunday, January 6th. UBS Group lowered shares of Align Technology from a buy rating to a neutral rating and set a $275.00 target price for the company. in a research note on Thursday, February 14th. Finally, ValuEngine lowered shares of Align Technology from a buy rating to a hold rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Align Technology currently has a consensus rating of Buy and a consensus price target of $323.78.

NASDAQ ALGN opened at $280.73 on Tuesday. Align Technology has a twelve month low of $177.93 and a twelve month high of $398.88. The company has a market cap of $21.25 billion, a price-to-earnings ratio of 57.06, a PEG ratio of 2.43 and a beta of 2.12.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Tuesday, January 29th. The medical equipment provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. Align Technology had a net margin of 20.35% and a return on equity of 33.41%. The firm had revenue of $534.02 million for the quarter, compared to analysts’ expectations of $512.03 million. As a group, equities analysts anticipate that Align Technology will post 5.08 earnings per share for the current year.

In related news, Director Yuval Shaked sold 400 shares of Align Technology stock in a transaction on Monday, February 25th. The shares were sold at an average price of $255.52, for a total value of $102,208.00. Following the completion of the sale, the director now owns 24 shares of the company’s stock, valued at approximately $6,132.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Julie Tay sold 1,250 shares of Align Technology stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $254.58, for a total transaction of $318,225.00. Following the completion of the sale, the senior vice president now directly owns 11,926 shares of the company’s stock, valued at approximately $3,036,121.08. The disclosure for this sale can be found here. Insiders have sold a total of 21,650 shares of company stock valued at $5,586,633 in the last three months. Company insiders own 1.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ALGN. Commonwealth Equity Services LLC lifted its stake in shares of Align Technology by 7.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,160 shares of the medical equipment provider’s stock valued at $3,192,000 after purchasing an additional 576 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Align Technology by 47.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 216,832 shares of the medical equipment provider’s stock valued at $84,830,000 after purchasing an additional 69,997 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its stake in shares of Align Technology by 6.0% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 5,260 shares of the medical equipment provider’s stock valued at $2,058,000 after purchasing an additional 297 shares during the last quarter. MML Investors Services LLC raised its holdings in Align Technology by 14.8% in the 3rd quarter. MML Investors Services LLC now owns 6,744 shares of the medical equipment provider’s stock worth $2,638,000 after acquiring an additional 870 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in Align Technology by 148.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 521 shares of the medical equipment provider’s stock worth $204,000 after acquiring an additional 311 shares during the period. 81.69% of the stock is owned by institutional investors and hedge funds.

Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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The Fly

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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