Align Technology (NASDAQ:ALGN) Price Target Increased to $320.00 by Analysts at UBS Group

Align Technology (NASDAQ:ALGN - Get Free Report) had its target price hoisted by equities research analysts at UBS Group from $280.00 to $320.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the medical equipment provider's stock. UBS Group's price target points to a potential upside of 5.01% from the company's current price.

ALGN has been the topic of a number of other research reports. Piper Sandler increased their price objective on Align Technology from $335.00 to $355.00 and gave the company an "overweight" rating in a report on Thursday, March 14th. Leerink Partnrs reissued a "market perform" rating on shares of Align Technology in a report on Monday, February 26th. The Goldman Sachs Group increased their price objective on Align Technology from $197.00 to $225.00 and gave the company a "sell" rating in a report on Friday, February 2nd. Stifel Nicolaus raised their target price on Align Technology from $340.00 to $350.00 and gave the company a "buy" rating in a report on Friday, March 15th. Finally, SVB Leerink started coverage on Align Technology in a report on Monday, February 26th. They issued a "market perform" rating and a $310.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Align Technology has an average rating of "Moderate Buy" and a consensus price target of $339.91.

Align Technology Price Performance

Align Technology stock traded down $10.23 during mid-day trading on Monday, hitting $304.74. The company's stock had a trading volume of 549,856 shares, compared to its average volume of 759,463. The firm's 50 day moving average is $311.97 and its 200 day moving average is $269.75. The company has a market cap of $22.93 billion, a PE ratio of 52.36, a price-to-earnings-growth ratio of 5.67 and a beta of 1.65. Align Technology has a 52-week low of $176.34 and a 52-week high of $413.20.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The firm had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. As a group, analysts forecast that Align Technology will post 7.65 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Emory Wright sold 2,524 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. In related news, EVP Emory Wright sold 2,524 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. Also, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares of the company's stock, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,524 shares of company stock worth $8,403,924. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Align Technology

Several institutional investors have recently bought and sold shares of ALGN. Rhenman & Partners Asset Management AB bought a new position in Align Technology in the 3rd quarter valued at $305,000. Norges Bank bought a new position in Align Technology in the 4th quarter valued at $223,610,000. Ameriprise Financial Inc. increased its stake in shares of Align Technology by 348.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider's stock valued at $230,938,000 after buying an additional 587,886 shares during the period. Brown Advisory Inc. increased its stake in shares of Align Technology by 41.4% in the 4th quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider's stock valued at $413,488,000 after buying an additional 441,754 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Align Technology by 102.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 414,772 shares of the medical equipment provider's stock valued at $113,648,000 after buying an additional 209,419 shares during the period. Institutional investors own 88.43% of the company's stock.

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.