UBS Group Boosts Align Technology (NASDAQ:ALGN) Price Target to $320.00

Align Technology (NASDAQ:ALGN) had its price objective lifted by UBS Group from $280.00 to $320.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the medical equipment provider’s stock.

Other equities analysts have also issued reports about the company. Stifel Nicolaus upped their target price on Align Technology from $340.00 to $350.00 and gave the company a buy rating in a research note on Friday, March 15th. SVB Leerink initiated coverage on shares of Align Technology in a research note on Monday, February 26th. They set a market perform rating and a $310.00 price target on the stock. Piper Sandler boosted their price objective on shares of Align Technology from $335.00 to $355.00 and gave the company an overweight rating in a research note on Thursday, March 14th. Leerink Partnrs reaffirmed a market perform rating on shares of Align Technology in a research report on Monday, February 26th. Finally, The Goldman Sachs Group lifted their target price on Align Technology from $197.00 to $225.00 and gave the company a sell rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $344.45.

Align Technology Trading Up 0.4 %

Align Technology stock opened at $301.34 on Monday. The stock has a market cap of $22.68 billion, a PE ratio of 51.78, a P/E/G ratio of 5.46 and a beta of 1.65. The stock has a 50-day moving average price of $312.73 and a 200 day moving average price of $270.18. Align Technology has a 52 week low of $176.34 and a 52 week high of $413.20.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $928.57 million. On average, equities analysts predict that Align Technology will post 7.69 EPS for the current year.

Insider Transactions at Align Technology

In related news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock valued at $8,403,924 over the last quarter. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Align Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. KB Financial Partners LLC acquired a new stake in Align Technology during the 1st quarter valued at approximately $26,000. Mather Group LLC. purchased a new position in shares of Align Technology during the 1st quarter valued at approximately $26,000. Cornerstone Planning Group LLC acquired a new stake in shares of Align Technology during the second quarter worth approximately $29,000. First Manhattan CO. LLC. increased its stake 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 during the last quarter. Finally, Huntington National Bank raised its holdings in Align Technology by 94.9% in the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 56 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

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.