Align Technology (ALGN) PT Set at $325.00 by Barclays

Barclays set a $325.00 price target on Align Technology (NASDAQ:ALGN) in a report published on Thursday, TipRanks reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

A number of other equities analysts have also recently issued reports on ALGN. ValuEngine raised Align Technology from a hold rating to a buy rating in a report on Wednesday, December 26th. Zacks Investment Research raised Align Technology from a sell rating to a hold rating in a report on Monday, December 31st. Robert W. Baird lowered their target price on Align Technology from $330.00 to $255.00 and set an outperform rating for the company in a report on Wednesday, January 2nd. Morgan Stanley lowered their target price on Align Technology from $300.00 to $210.00 and set an equal weight rating for the company in a report on Friday, January 4th. Finally, UBS Group started coverage on Align Technology in a report on Thursday, January 17th. They issued a buy rating and a $230.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the company. Align Technology has a consensus rating of Buy and an average target price of $329.07.

Shares of Align Technology stock traded up $3.42 during trading on Thursday, reaching $293.08. 740,638 shares of the company’s stock were exchanged, compared to its average volume of 1,105,029. Align Technology has a 1-year low of $177.93 and a 1-year high of $398.88. The stock has a market capitalization of $23.17 billion, a P/E ratio of 59.57, a price-to-earnings-growth ratio of 2.64 and a beta of 2.13.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. The company had revenue of $534.02 million during the quarter, compared to analysts’ expectations of $512.03 million. As a group, research analysts anticipate that Align Technology will post 5.08 earnings per share for the current year.

In other news, Director Joseph Lacob sold 20,000 shares of the stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $258.31, for a total value of $5,166,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yuval Shaked sold 400 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $255.52, for a total value of $102,208.00. Following the completion of the sale, the director now directly owns 24 shares of the company’s stock, valued at approximately $6,132.48. The disclosure for this sale can be found here. In the last three months, insiders sold 21,650 shares of company stock valued at $5,586,633. Insiders own 1.40% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Larson Financial Group LLC increased its stake in shares of Align Technology by 588.2% in the first quarter. Larson Financial Group LLC now owns 117 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 100 shares during the period. Captrust Financial Advisors increased its stake in shares of Align Technology by 67.6% in the fourth quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 50 shares during the period. Berman Capital Advisors LLC acquired a new stake in shares of Align Technology in the fourth quarter valued at about $27,000. Gemmer Asset Management LLC increased its stake in shares of Align Technology by 57.3% in the fourth quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 51 shares during the period. Finally, Sontag Advisory LLC acquired a new stake in shares of Align Technology in the fourth quarter valued at about $30,000. 82.79% of the stock is owned by institutional investors.

About Align Technology

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.

Featured Story: What is a Leveraged Buyout (LBO)?

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.