Robert W. Baird cut shares of Align Technology Inc. (NASDAQ:ALGN) from an outperform rating to a neutral rating in a report released on Monday morning. They currently have $96.00 target price on the stock.
ALGN has been the subject of several other research reports. Zacks Investment Research raised shares of Align Technology from a hold rating to a strong-buy rating and set a $97.00 price objective for the company in a research report on Wednesday, July 13th. Stifel Nicolaus increased their target price on Align Technology from $82.00 to $95.00 and gave the stock a buy rating in a report on Thursday, July 28th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Align Technology currently has a consensus rating of Buy and a consensus target price of $85.09.
Align Technology (NASDAQ:ALGN) opened at 89.44 on Monday. The firm has a 50 day moving average of $93.33 and a 200 day moving average of $82.91. Align Technology has a 12-month low of $55.32 and a 12-month high of $96.90. The firm has a market capitalization of $7.16 billion, a P/E ratio of 43.63 and a beta of 1.87.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. The company earned $269.40 million during the quarter, compared to the consensus estimate of $259.29 million. Align Technology had a net margin of 17.67% and a return on equity of 19.40%. The company’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. On average, analysts forecast that Align Technology will post $2.28 EPS for the current fiscal year.
In other news, VP Julie Tay sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $92.60, for a total transaction of $277,800.00. Following the completion of the sale, the vice president now directly owns 3,104 shares of the company’s stock, valued at approximately $287,430.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jennifer Olson sold 799 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $93.30, for a total value of $74,546.70. Following the sale, the vice president now directly owns 4,483 shares of the company’s stock, valued at $418,263.90. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Align Technology during the fourth quarter valued at $45,205,000. Glenmede Trust Co. NA raised its stake in shares of Align Technology by 55.8% in the first quarter. Glenmede Trust Co. NA now owns 25,039 shares of the company’s stock valued at $1,819,000 after buying an additional 8,970 shares during the period. Aperio Group LLC raised its stake in shares of Align Technology by 20.2% in the first quarter. Aperio Group LLC now owns 17,735 shares of the company’s stock valued at $1,289,000 after buying an additional 2,986 shares during the period. Virginia Retirement System purchased a new stake in shares of Align Technology during the first quarter valued at $734,000. Finally, CIBC World Markets Inc. purchased a new stake in shares of Align Technology during the first quarter valued at $1,652,000. 87.12% of the stock is owned by institutional investors.
About Align Technology