Investment analysts at Barclays started coverage on shares of Align Technology (NASDAQ:ALGN) in a report released on Thursday, MarketBeat.com reports. The firm set an “overweight” rating and a $290.00 price target on the medical equipment provider’s stock. Barclays’ target price indicates a potential upside of 6.72% from the stock’s previous close.
ALGN has been the subject of several other research reports. Stifel Nicolaus increased their price target on shares of Align Technology from $265.00 to $295.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Morgan Stanley increased their price target on shares of Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. Credit Suisse Group raised shares of Align Technology to a “buy” rating and set a $276.00 price target for the company in a research report on Thursday, January 4th. Zacks Investment Research lowered shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, Stephens lowered shares of Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 price target for the company. in a research report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $260.79.
Align Technology (ALGN) opened at $271.74 on Thursday. Align Technology has a 52-week low of $104.39 and a 52-week high of $287.32. The stock has a market cap of $21,490.67, a PE ratio of 95.68, a P/E/G ratio of 2.04 and a beta of 1.44.
In other news, VP Emory Wright sold 45,780 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the completion of the sale, the vice president now owns 29,957 shares of the company’s stock, valued at $7,791,216.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph M. Hogan acquired 1,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average cost of $233.63 per share, with a total value of $350,445.00. Following the acquisition, the insider now owns 42,984 shares of the company’s stock, valued at approximately $10,042,351.92. The disclosure for this purchase can be found here. Company insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chemical Bank grew its stake in shares of Align Technology by 215.9% during the fourth quarter. Chemical Bank now owns 3,885 shares of the medical equipment provider’s stock valued at $863,000 after purchasing an additional 2,655 shares during the last quarter. Elkfork Partners LLC bought a new stake in shares of Align Technology during the fourth quarter valued at approximately $924,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Align Technology by 88.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 75,840 shares of the medical equipment provider’s stock valued at $16,851,000 after purchasing an additional 35,623 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in shares of Align Technology during the fourth quarter valued at approximately $168,000. Finally, Tuttle Tactical Management LLC bought a new stake in shares of Align Technology during the fourth quarter valued at approximately $1,389,000. 79.55% of the stock is currently owned by institutional investors and hedge funds.
WARNING: This article was originally published by Ticker Report and is owned by of Ticker Report. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.tickerreport.com/banking-finance/3252680/align-technology-algn-earns-overweight-rating-from-analysts-at-barclays.html.
About Align Technology
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.
Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.