Align Technology (NASDAQ:ALGN) Price Target Raised to $400.00 at Stifel Nicolaus

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

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

Align Technology Price Performance

NASDAQ:ALGN opened at $301.34 on Thursday. The firm’s fifty day moving average price is $312.73 and its 200 day moving average price is $270.18. Align Technology has a 1-year low of $176.34 and a 1-year high of $413.20. The firm has a market cap of $22.68 billion, a price-to-earnings ratio of 51.78, a price-to-earnings-growth ratio of 5.46 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. As a group, analysts expect that Align Technology will post 7.69 earnings per share for the current fiscal year.

Insider Activity at Align Technology

In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Align Technology

A number of institutional investors have recently made changes to their positions in ALGN. Metropolitan Life Insurance Co NY raised its position in shares of Align Technology by 0.7% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,202 shares of the medical equipment provider’s stock valued at $886,000 after acquiring an additional 31 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of Align Technology by 1.8% in the first quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock worth $691,000 after purchasing an additional 38 shares in the last quarter. EFG Asset Management Americas Corp. boosted its stake in Align Technology by 3.6% during the fourth quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock valued at $320,000 after buying an additional 41 shares in the last quarter. Dfpg Investments LLC boosted its stake in Align Technology by 3.3% during the fourth quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock valued at $340,000 after buying an additional 42 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in Align Technology by 2.7% during the third quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider’s stock valued at $517,000 after buying an additional 44 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

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.