Brokerages Set Align Technology, Inc. (ALGN) Target Price at $235.55

Align Technology, Inc. (NASDAQ:ALGN) has been given an average recommendation of “Buy” by the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $235.55.

Several brokerages have recently issued reports on ALGN. Stifel Nicolaus restated a “buy” rating and issued a $205.00 target price (up previously from $200.00) on shares of Align Technology in a report on Monday, August 7th. Robert W. Baird restated a “buy” rating and issued a $290.00 target price on shares of Align Technology in a report on Wednesday. Credit Suisse Group restated an “outperform” rating and issued a $276.00 target price (up previously from $261.00) on shares of Align Technology in a report on Tuesday, November 28th. Goldman Sachs Group upped their target price on shares of Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 15th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $200.00 target price on shares of Align Technology in a report on Monday, September 11th.

In related news, VP Julie Tay sold 3,500 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $253.00, for a total transaction of $885,500.00. Following the completion of the sale, the vice president now owns 12,213 shares in the company, valued at approximately $3,089,889. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Emory Wright sold 5,025 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the sale, the vice president now owns 80,762 shares of the company’s stock, valued at approximately $21,295,324.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,849 shares of company stock valued at $13,494,348. 1.60% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. purchased a new position in shares of Align Technology in the 3rd quarter valued at about $2,875,000. Rhumbline Advisers increased its holdings in Align Technology by 4.9% during the 3rd quarter. Rhumbline Advisers now owns 150,816 shares of the medical equipment provider’s stock valued at $28,092,000 after acquiring an additional 7,032 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Align Technology during the 2nd quarter worth about $1,768,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Align Technology during the 2nd quarter worth about $454,000. Finally, Aperio Group LLC boosted its stake in shares of Align Technology by 38.5% during the 3rd quarter. Aperio Group LLC now owns 42,818 shares of the medical equipment provider’s stock worth $7,976,000 after purchasing an additional 11,892 shares during the last quarter. Institutional investors own 83.88% of the company’s stock.

Shares of Align Technology (ALGN) traded down $6.81 during trading hours on Thursday, hitting $254.07. 1,354,843 shares of the company’s stock were exchanged, compared to its average volume of 935,948. Align Technology has a 52 week low of $88.56 and a 52 week high of $266.41. The stock has a market cap of $20,370.83, a P/E ratio of 75.17, a PEG ratio of 2.43 and a beta of 1.43.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The company had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. During the same period in the prior year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. analysts expect that Align Technology will post 3.62 earnings per share for the current year.

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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.

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