Align Technology (NASDAQ:ALGN) Given New $400.00 Price Target at Stifel Nicolaus

Align Technology (NASDAQ:ALGN) had its price objective hoisted by Stifel Nicolaus from $350.00 to $400.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

A number of other brokerages have also recently commented on ALGN. UBS Group raised their target price on Align Technology from $280.00 to $320.00 and gave the company a neutral rating in a report on Monday, April 15th. Piper Sandler increased their price target on Align Technology from $335.00 to $355.00 and gave the company an overweight rating in a research report on Thursday, March 14th. The Goldman Sachs Group increased their price target on Align Technology from $197.00 to $225.00 and gave the company a sell rating in a research report on Friday, February 2nd. Leerink Partnrs reissued a market perform rating on shares of Align Technology in a research report on Monday, February 26th. Finally, SVB Leerink began coverage on Align Technology in a research report on Monday, February 26th. They set a market perform rating and a $310.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $344.45.

Align Technology Trading Down 0.8 %

NASDAQ ALGN opened at $298.98 on Thursday. The stock has a market cap of $22.50 billion, a PE ratio of 51.37, a P/E/G ratio of 5.35 and a beta of 1.65. Align Technology has a twelve month low of $176.34 and a twelve month high of $413.20. The stock has a fifty day simple moving average of $312.79 and a 200-day simple moving average of $269.88.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The company had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Research analysts predict that Align Technology will post 7.69 EPS for the current year.

Insider Buying and Selling

In other news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 709 shares of the company’s stock, valued at $203,802.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Align Technology

A number of institutional investors have recently added to or reduced their stakes in ALGN. Mather Group LLC. purchased a new stake in shares of Align Technology in the first quarter worth about $26,000. KB Financial Partners LLC purchased a new position in Align Technology in the first quarter valued at about $26,000. Cornerstone Planning Group LLC purchased a new position in Align Technology in the second quarter valued at about $29,000. Huntington National Bank boosted 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 purchasing an additional 56 shares during the last quarter. Finally, First Manhattan CO. LLC. boosted its holdings in Align Technology by 593.8% in the first quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

About Align Technology

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.