Stephens reissued their hold rating on shares of Align Technology (NASDAQ:ALGN) in a report issued on Tuesday morning, TipRanks reports. Stephens currently has a $220.00 price objective on the medical equipment provider’s stock.
Other equities research analysts have also recently issued reports about the company. Barclays reduced their target price on Align Technology from $300.00 to $272.00 and set an overweight rating on the stock in a report on Monday, October 7th. Robert W. Baird reduced their target price on Align Technology from $336.00 to $259.00 and set an outperform rating on the stock in a report on Friday, July 26th. ValuEngine cut Align Technology from a hold rating to a sell rating in a report on Monday, November 11th. Zacks Investment Research raised Align Technology from a sell rating to a hold rating and set a $262.00 target price on the stock in a report on Friday, October 25th. Finally, Bank of America lifted their target price on Align Technology from $220.00 to $240.00 and gave the stock a neutral rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $253.58.
NASDAQ:ALGN opened at $272.14 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 1.73 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $232.16 and its two-hundred day simple moving average is $242.02. The stock has a market cap of $21.41 billion, a PE ratio of 58.66, a P/E/G ratio of 2.38 and a beta of 2.07. Align Technology has a 52 week low of $169.84 and a 52 week high of $334.64.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.14. The business had revenue of $607.30 million for the quarter, compared to analysts’ expectations of $595.29 million. Align Technology had a return on equity of 28.76% and a net margin of 18.28%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm earned $1.24 earnings per share. Sell-side analysts anticipate that Align Technology will post 5.17 earnings per share for the current fiscal year.
In other Align Technology news, Director Warren S. Thaler sold 1,942 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $250.84, for a total transaction of $487,131.28. Following the sale, the director now directly owns 43,900 shares of the company’s stock, valued at $11,011,876. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yuval Shaked sold 500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $260.25, for a total value of $130,125.00. Following the sale, the director now directly owns 841 shares in the company, valued at $218,870.25. The disclosure for this sale can be found here. Insiders have sold 33,460 shares of company stock worth $7,797,213 over the last three months. 1.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Ossiam bought a new stake in Align Technology during the second quarter worth approximately $43,000. TRUE Private Wealth Advisors bought a new stake in Align Technology during the second quarter worth approximately $45,000. Squar Milner Financial Services LLC increased its stake in Align Technology by 115.4% during the third quarter. Squar Milner Financial Services LLC now owns 168 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. CSat Investment Advisory L.P. increased its stake in Align Technology by 218.7% during the second quarter. CSat Investment Advisory L.P. now owns 239 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 164 shares during the last quarter. Finally, FTB Advisors Inc. increased its stake in Align Technology by 102.9% during the second quarter. FTB Advisors Inc. now owns 278 shares of the medical equipment provider’s stock worth $76,000 after acquiring an additional 141 shares during the last quarter. 89.69% 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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