Align Technology (NASDAQ:ALGN) Rating Reiterated by Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Align Technology (NASDAQ:ALGN) in a report issued on Thursday morning, Benzinga reports. The firm currently has a $375.00 target price on the medical equipment provider’s stock, up from their prior target price of $355.00.

Other equities research analysts have also issued reports about the stock. Robert W. Baird upped their price objective on shares of Align Technology from $333.00 to $370.00 and gave the company an outperform rating in a research note on Thursday. Leerink Partnrs reaffirmed a market perform rating on shares of Align Technology in a research note on Monday, February 26th. SVB Leerink started coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a market perform rating and a $310.00 price objective on the stock. UBS Group upped their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a neutral rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group upped their price objective on shares of Align Technology from $197.00 to $225.00 and gave the company a sell rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $353.00.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $309.02 on Thursday. Align Technology has a 52-week low of $176.34 and a 52-week high of $413.20. The firm has a 50 day moving average price of $313.38 and a two-hundred day moving average price of $270.82. The stock has a market cap of $23.25 billion, a P/E ratio of 50.91, a price-to-earnings-growth ratio of 5.53 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The firm had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Analysts predict that Align Technology will post 7.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the transaction, 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. Over the last 90 days, insiders sold 27,524 shares of company stock worth $8,403,924. Insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Align Technology

Several large investors have recently modified their holdings of the business. Moody National Bank Trust Division boosted its position 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 valued at $691,000 after acquiring an additional 38 shares during the period. EFG Asset Management Americas Corp. boosted its position in shares of Align Technology by 3.6% in 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 acquiring an additional 41 shares during the period. Dfpg Investments LLC boosted its position in shares of Align Technology by 3.3% in the fourth quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock valued at $340,000 after acquiring an additional 42 shares during the period. Richard W. Paul & Associates LLC boosted its position in shares of Align Technology by 2.8% in the fourth quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock valued at $457,000 after acquiring an additional 45 shares during the period. Finally, Valley National Advisers Inc. boosted its position in shares of Align Technology by 29.7% in the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Company Profile

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.