Align Technology (NASDAQ:ALGN) Given New $400.00 Price Target at Stifel Nicolaus

Align Technology (NASDAQ:ALGN - Get Free Report) had its target price increased by equities research analysts at Stifel Nicolaus from $350.00 to $400.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the medical equipment provider's stock. Stifel Nicolaus' price target points to a potential upside of 32.74% from the company's previous close.

ALGN has been the topic of a number of other reports. The Goldman Sachs Group upped their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a "sell" rating in a report on Friday, February 2nd. Leerink Partnrs reissued a "market perform" rating on shares of Align Technology in a report on Monday, February 26th. Piper Sandler increased their price target on shares of Align Technology from $335.00 to $355.00 and gave the company an "overweight" rating in a report on Thursday, March 14th. UBS Group increased their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a "neutral" rating in a report on Monday. Finally, SVB Leerink began coverage on shares of Align Technology in a report on Monday, February 26th. They issued a "market perform" rating and a $310.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $344.45.

Align Technology Trading Up 0.4 %

Shares of Align Technology stock traded up $1.20 during trading hours on Thursday, reaching $301.34. 417,009 shares of the company's stock were exchanged, compared to its average volume of 749,011. The company has a 50 day moving average of $312.61 and a two-hundred day moving average of $269.97. Align Technology has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The stock has a market cap of $22.68 billion, a P/E ratio of 52.02, a P/E/G ratio of 5.46 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings data 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 11.52% and a return on equity of 13.88%. The company had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. As a group, analysts expect that Align Technology will post 7.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Lacob sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now owns 146,994 shares in the company, valued at approximately $46,010,591.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Lacob sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the sale, the director now owns 146,994 shares in the company, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,524 shares of company stock worth $8,403,924. Corporate insiders own 0.64% of the company's stock.

Institutional Trading of Align Technology

A number of hedge funds have recently added to or reduced their stakes in ALGN. Mather Group LLC. bought a new position in shares of Align Technology during the first quarter valued at $26,000. KB Financial Partners LLC bought a new position in shares of Align Technology during the first quarter valued at $26,000. Cornerstone Planning Group LLC bought a new position in shares of Align Technology during the second quarter valued at $29,000. Huntington National Bank raised its stake in shares of Align Technology by 94.9% during the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 56 shares during the last quarter. Finally, First Manhattan CO. LLC. raised its stake in shares of Align Technology by 593.8% during the first quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider's stock valued at $37,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds 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.