Align Technology Inc. (NASDAQ:ALGN) had its target price hoisted by Stifel Nicolaus from $95.00 to $110.00 in a note issued to investors on Monday. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 14.36% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. Jefferies Group reissued a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Align Technology in a research report on Tuesday, November 8th. Zacks Investment Research raised Align Technology from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Wednesday, November 9th. Robert W. Baird lowered Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 target price for the company. in a research report on Monday, October 3rd. Finally, Morgan Stanley set a $114.00 target price on Align Technology and gave the company a “buy” rating in a research report on Wednesday, October 19th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $91.18.
Align Technology (NASDAQ:ALGN) opened at 96.19 on Monday. The company has a 50-day moving average price of $90.15 and a 200-day moving average price of $87.18. The firm has a market cap of $7.67 billion, a P/E ratio of 41.11 and a beta of 1.33. Align Technology has a 1-year low of $57.31 and a 1-year high of $98.62.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Monday, November 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. The business earned $278.60 million during the quarter, compared to analyst estimates of $271.61 million. Align Technology had a return on equity of 21.09% and a net margin of 18.78%. Align Technology’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. On average, equities research analysts forecast that Align Technology will post $2.41 EPS for the current fiscal year.
In other Align Technology news, CFO David L. White sold 11,152 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $95.53, for a total value of $1,065,350.56. Following the sale, the chief financial officer now owns 9,473 shares of the company’s stock, valued at approximately $904,955.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas M. Prescott sold 33,125 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $90.60, for a total value of $3,001,125.00. Following the completion of the sale, the director now directly owns 124,378 shares in the company, valued at approximately $11,268,646.80. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in ALGN. ETRADE Capital Management LLC acquired a new stake in Align Technology during the third quarter valued at $240,000. D.A. Davidson & CO. boosted its stake in Align Technology by 204.3% in the third quarter. D.A. Davidson & CO. now owns 5,000 shares of the company’s stock valued at $468,000 after buying an additional 3,357 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Align Technology during the third quarter valued at $452,000. Marvin & Palmer Associates Inc. acquired a new stake in Align Technology during the third quarter valued at $2,242,000. Finally, Peloton Wealth Strategists acquired a new stake in Align Technology during the third quarter valued at $1,673,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.
Align Technology Company Profile