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

Piper Sandler reaffirmed their overweight rating on shares of Align Technology (NASDAQ:ALGN) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $375.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $355.00.

A number of other brokerages have also issued reports on ALGN. The Goldman Sachs Group lifted their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a sell rating in a research note on Friday, February 2nd. SVB Leerink began 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 target for the company. UBS Group lifted their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a neutral rating in a research note on Monday, April 15th. Stifel Nicolaus lifted their price target on shares of Align Technology from $350.00 to $400.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Finally, Robert W. Baird lifted their price target on shares of Align Technology from $333.00 to $370.00 and gave the stock an outperform rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $353.00.

Align Technology Trading Down 0.5 %

NASDAQ ALGN opened at $309.02 on Thursday. The company’s fifty day simple moving average is $313.38 and its 200-day simple moving average is $270.82. Align Technology has a 52 week low of $176.34 and a 52 week high of $413.20. The stock has a market cap of $23.25 billion, a P/E ratio of 50.91, a PEG ratio of 5.53 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The business had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. On average, research analysts expect that Align Technology will post 7.69 EPS for the current fiscal year.

Insider Buying and Selling at Align Technology

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s 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 sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Align Technology 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 sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 131,994 shares in the company, valued at $40,023,220.68. The disclosure for this sale can be found here. In the last three months, insiders sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALGN. Rhenman & Partners Asset Management AB acquired a new stake in Align Technology in the third quarter valued at approximately $305,000. Norges Bank acquired a new stake in Align Technology in the fourth quarter valued at approximately $223,610,000. Ameriprise Financial Inc. lifted its stake in shares of Align Technology by 348.9% in the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after buying an additional 587,886 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Align Technology by 41.4% in the fourth quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock worth $413,488,000 after buying an additional 441,754 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Align Technology by 102.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 414,772 shares of the medical equipment provider’s stock worth $113,648,000 after buying an additional 209,419 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

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.