Align Technology (NASDAQ:ALGN) Price Target Increased to $360.00 by Analysts at Morgan Stanley

Align Technology (NASDAQ:ALGN - Free Report) had its target price boosted by Morgan Stanley from $344.00 to $360.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the medical equipment provider's stock.

Several other research analysts also recently weighed in on ALGN. SVB Leerink began coverage on 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. Stifel Nicolaus raised their price objective on Align Technology from $350.00 to $400.00 and gave the company a buy rating in a research report on Thursday, April 18th. UBS Group boosted their target price on Align Technology from $280.00 to $320.00 and gave the stock a neutral rating in a research report on Monday, April 15th. Robert W. Baird lifted their price objective on Align Technology from $333.00 to $370.00 and gave the stock an outperform rating in a research note on Thursday. Finally, The Goldman Sachs Group increased their target price on Align Technology from $197.00 to $225.00 and gave the company a sell rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Align Technology presently has a consensus rating of Moderate Buy and an average target price of $341.36.

Align Technology Trading Down 1.0 %

NASDAQ ALGN traded down $3.28 on Thursday, reaching $310.50. 1,654,227 shares of the stock were exchanged, compared to its average volume of 756,560. Align Technology has a one year low of $176.34 and a one year high of $413.20. The firm has a market capitalization of $23.37 billion, a PE ratio of 53.35, a PEG ratio of 5.59 and a beta of 1.65. The company's 50-day simple moving average is $313.37 and its two-hundred day simple moving average is $270.52.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. Sell-side analysts forecast that Align Technology will post 7.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Emory Wright sold 2,524 shares of the firm'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 transaction, the executive vice president now owns 709 shares of the company's stock, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Lacob sold 15,000 shares of Align Technology 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 sale, the director now directly 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. Insiders sold 27,524 shares of company stock worth $8,403,924 over the last 90 days. Company insiders own 0.64% of the company's stock.

Institutional Investors Weigh In On Align Technology

Several large investors have recently modified their holdings of ALGN. Moody National Bank Trust Division increased its holdings in Align Technology by 1.8% during the first quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider's stock valued at $691,000 after buying an additional 38 shares during the period. EFG Asset Management Americas Corp. raised its position in shares of Align Technology by 3.6% in the 4th quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider's stock worth $320,000 after acquiring an additional 41 shares in the last quarter. Dfpg Investments LLC lifted its stake in shares of Align Technology by 3.3% during the 4th quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider's stock worth $340,000 after purchasing an additional 42 shares during the last quarter. Richard W. Paul & Associates LLC boosted its position in Align Technology by 2.8% during the fourth quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider's stock valued at $457,000 after purchasing an additional 45 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in Align Technology by 29.7% in the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider's stock valued at $65,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 88.43% of the company's stock.

About Align Technology

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.