Weekly Research Analysts’ Ratings Changes for Align Technology (ALGN)

Several analysts have recently updated their ratings and price targets for Align Technology (NASDAQ: ALGN):

  • 5/17/2019 – Align Technology was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 4/26/2019 – Align Technology was given a new $325.00 price target on by analysts at UBS Group AG. They now have a “hold” rating on the stock.
  • 4/26/2019 – Align Technology was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/26/2019 – Align Technology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $333.00 price target on the stock. According to Zacks, “Align Technology exited the first quarter of 2019 on a solid note. We are upbeat about the continued momentum in Invisalign volumes across all geographies. The company is witnessing solid worldwide Invisalign volume growth for teenage patient cases. In North America, Align Technology continued to witness an expanding GP dentist customer base along with continued strength in Invisalign utilization by orthodontists. We are encouraged by the solid performance in the EMEA region and APAC markets. Solid worldwide teen case growth is also impressive. Align Technology has been outperforming its industry over the past three months. Meanwhile, Invisalign store closure put pressure on the bottom line. The company is exposed to foreign exchange variations, seasonal demand fluctuations, higher operating expenses pertaining to increased head count along with increased investments targeted toward expansion of geographical presence and portfolio.”
  • 4/25/2019 – Align Technology had its price target raised by analysts at Barclays PLC from $335.00 to $355.00. They now have an “overweight” rating on the stock.
  • 4/25/2019 – Align Technology had its price target raised by analysts at Piper Jaffray Companies from $300.00 to $350.00. They now have an “overweight” rating on the stock.
  • 4/25/2019 – Align Technology had its price target raised by analysts at Credit Suisse Group AG from $305.00 to $316.00. They now have an “outperform” rating on the stock.
  • 4/18/2019 – Align Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 4/17/2019 – Align Technology is now covered by analysts at Guggenheim. They set a “buy” rating and a $335.00 price target on the stock.
  • 4/11/2019 – Align Technology was given a new $325.00 price target on by analysts at Barclays PLC. They now have a “buy” rating on the stock.
  • 3/25/2019 – Align Technology had its price target raised by analysts at Credit Suisse Group AG from $270.00 to $278.00. They now have an “outperform” rating on the stock.
  • 3/22/2019 – Align Technology was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 3/20/2019 – Align Technology was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 3/19/2019 – Align Technology had its price target raised by analysts at Piper Jaffray Companies from $250.00 to $300.00. They now have an “overweight” rating on the stock.

Shares of ALGN traded down $8.15 during mid-day trading on Friday, hitting $322.72. The company’s stock had a trading volume of 53,835 shares, compared to its average volume of 1,141,895. Align Technology, Inc. has a one year low of $177.93 and a one year high of $398.88. The stock has a market capitalization of $26.06 billion, a price-to-earnings ratio of 65.59, a P/E/G ratio of 2.61 and a beta of 2.14.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The company had revenue of $549.00 million during the quarter, compared to analysts’ expectations of $532.16 million. During the same period in the prior year, the business earned $1.17 earnings per share. Align Technology’s revenue for the quarter was up 25.7% compared to the same quarter last year. Equities research analysts anticipate that Align Technology, Inc. will post 5.33 EPS for the current fiscal year.

In related news, Director Yuval Shaked sold 400 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $255.52, for a total value of $102,208.00. Following the completion of the transaction, the director now directly owns 24 shares of the company’s stock, valued at $6,132.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $258.31, for a total value of $5,166,200.00. The disclosure for this sale can be found here. Insiders sold 57,460 shares of company stock valued at $17,270,643 over the last three months. 1.30% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors raised its stake in Align Technology by 67.6% during the fourth quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Berman Capital Advisors LLC acquired a new position in Align Technology during the fourth quarter worth $27,000. Horan Capital Advisors LLC. acquired a new position in Align Technology during the first quarter worth $28,000. Harvest Group Wealth Management LLC acquired a new position in Align Technology during the first quarter worth $28,000. Finally, Gemmer Asset Management LLC raised its stake in Align Technology by 57.3% during the fourth quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 51 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

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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