Jefferies Financial Group Raises Align Technology (NASDAQ:ALGN) Price Target to $450.00

Align Technology (NASDAQ:ALGN) had its price target hoisted by investment analysts at Jefferies Financial Group from $355.00 to $450.00 in a research note issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 5.91% from the company’s previous close.

ALGN has been the topic of several other reports. Piper Sandler boosted their target price on shares of Align Technology from $258.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. SVB Leerink boosted their price target on shares of Align Technology from $340.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday. BidaskClub raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. BofA Securities downgraded shares of Align Technology from a “neutral” rating to an “underperform” rating and set a $280.00 price target on the stock. in a research note on Monday, July 20th. Finally, Bank of America downgraded shares of Align Technology from a “neutral” rating to an “underperform” rating and set a $280.00 price target on the stock. in a research note on Monday, July 20th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $347.64.

NASDAQ:ALGN opened at $424.90 on Thursday. The firm has a market capitalization of $25.75 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 20.59 and a beta of 1.85. The company’s 50-day moving average is $322.11 and its two-hundred day moving average is $272.25. Align Technology has a 1-year low of $127.88 and a 1-year high of $343.21.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 21st. The medical equipment provider reported $2.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $2.02. The company had revenue of $734.14 million for the quarter, compared to analyst estimates of $551.55 million. Align Technology had a net margin of 78.75% and a return on equity of 81.50%. Align Technology’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 EPS. Sell-side analysts anticipate that Align Technology will post 1.29 EPS for the current year.

In other Align Technology news, Director Thomas M. Prescott sold 35,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $301.83, for a total value of $10,564,050.00. Following the sale, the director now directly owns 114,860 shares of the company’s stock, valued at approximately $34,668,193.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joseph M. Hogan sold 5,700 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $310.00, for a total transaction of $1,767,000.00. Following the completion of the sale, the chief executive officer now directly owns 194,036 shares in the company, valued at $60,151,160. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,252 shares of company stock worth $22,460,548. 1.20% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Cullen Frost Bankers Inc. purchased a new stake in shares of Align Technology in the 2nd quarter valued at approximately $25,000. CX Institutional boosted its holdings in shares of Align Technology by 93.6% in the 3rd quarter. CX Institutional now owns 91 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 44 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Align Technology in the 2nd quarter valued at $27,000. Coastal Capital Group Inc. boosted its holdings in shares of Align Technology by 51.3% in the 2nd quarter. Coastal Capital Group Inc. now owns 121 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 41 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Align Technology by 77.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 126 shares of the medical equipment provider’s stock valued at $41,000 after buying an additional 55 shares in the last quarter. 86.43% of the stock is currently owned by institutional investors.

Align Technology Company Profile

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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The Fly

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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