Align Technology (NASDAQ:ALGN) Given New $305.00 Price Target at Stifel Nicolaus

Align Technology (NASDAQ:ALGN) had its target price raised by Stifel Nicolaus from $290.00 to $305.00 in a research report released on Monday morning, The Fly reports. They currently have a buy rating on the medical equipment provider’s stock.

A number of other analysts have also recently commented on ALGN. Bank of America upped their price target on Align Technology from $220.00 to $240.00 and gave the company a neutral rating in a research note on Thursday, October 24th. UBS Group set a $230.00 price objective on Align Technology and gave the company a hold rating in a research report on Friday, July 26th. Credit Suisse Group decreased their price objective on Align Technology from $340.00 to $320.00 and set an outperform rating for the company in a research report on Thursday, July 25th. Piper Jaffray Companies set a $240.00 price objective on Align Technology and gave the company a buy rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird decreased their price objective on Align Technology from $336.00 to $259.00 and set an outperform rating for the company in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Align Technology currently has a consensus rating of Hold and an average target price of $253.58.

Shares of ALGN stock opened at $272.14 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.62. The stock has a market cap of $21.41 billion, a PE ratio of 58.66, a price-to-earnings-growth ratio of 2.38 and a beta of 2.07. The stock has a 50-day moving average of $232.16 and a 200-day moving average of $242.02. Align Technology has a one year low of $169.84 and a one year high of $334.64.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.14. The company had revenue of $607.30 million during the quarter, compared to analysts’ expectations of $595.29 million. Align Technology had a return on equity of 28.76% and a net margin of 18.28%. Align Technology’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS. As a group, research analysts anticipate that Align Technology will post 5.17 earnings per share for the current year.

In other news, SVP Stuart A. Hockridge sold 5,049 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $250.08, for a total value of $1,262,653.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yuval Shaked sold 800 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $268.61, for a total value of $214,888.00. Following the completion of the sale, the director now directly owns 41 shares of the company’s stock, valued at approximately $11,013.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,460 shares of company stock valued at $7,797,213. Insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its holdings in shares of Align Technology by 138,704.5% in the 2nd quarter. Private Advisor Group LLC now owns 3,786,588 shares of the medical equipment provider’s stock valued at $4,704,000 after buying an additional 3,783,860 shares during the last quarter. Edgewood Management LLC boosted its holdings in shares of Align Technology by 52.9% in the 2nd quarter. Edgewood Management LLC now owns 3,080,611 shares of the medical equipment provider’s stock valued at $843,163,000 after buying an additional 1,066,376 shares during the last quarter. Polen Capital Management LLC boosted its holdings in shares of Align Technology by 4.5% in the 2nd quarter. Polen Capital Management LLC now owns 2,603,337 shares of the medical equipment provider’s stock valued at $712,533,000 after buying an additional 111,291 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Align Technology by 12.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,537,681 shares of the medical equipment provider’s stock valued at $694,563,000 after buying an additional 277,681 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Align Technology by 24.9% in the 2nd quarter. Invesco Ltd. now owns 1,507,453 shares of the medical equipment provider’s stock valued at $412,590,000 after buying an additional 300,590 shares during the last quarter. 89.69% of the stock is owned by institutional investors.

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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