Align Technology (NASDAQ:ALGN) Upgraded to Overweight at Barclays

Align Technology (NASDAQ:ALGN) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $200.00 price objective on the medical equipment provider’s stock. Barclays‘s target price suggests a potential upside of 18.03% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. UBS Group boosted their price target on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Mizuho lifted their target price on Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Morgan Stanley upped their target price on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Finally, Stifel Nicolaus increased their price target on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $198.08.

Align Technology Stock Up 3.2%

NASDAQ ALGN opened at $169.45 on Tuesday. Align Technology has a 12-month low of $122.00 and a 12-month high of $208.30. The company has a market capitalization of $12.08 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.79 and a beta of 1.79. The firm’s 50 day moving average is $176.15 and its 200-day moving average is $153.53.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping the consensus estimate of $2.99 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.44 earnings per share. As a group, sell-side analysts expect that Align Technology will post 7.98 EPS for the current year.

Insider Transactions at Align Technology

In related news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the sale, the executive vice president directly owned 8,237 shares in the company, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Align Technology

Several institutional investors and hedge funds have recently bought and sold shares of ALGN. Rothschild Investment LLC lifted its position in shares of Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 87 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Align Technology by 222.4% during the 4th quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 109 shares during the last quarter. Independence Bank of Kentucky increased its holdings in shares of Align Technology by 77.7% during the 4th quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 80 shares during the last quarter. Sentry Investment Management LLC raised its stake in Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new stake in Align Technology in the 2nd quarter valued at $36,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.