Align Technology, Inc. (ALGN) Price Target Increased to $210.00 by Analysts at Goldman Sachs Group, Inc. (The)
Align Technology, Inc. (NASDAQ:ALGN) had its target price upped by equities research analysts at Goldman Sachs Group, Inc. (The) to $210.00 in a report issued on Friday, The Fly reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Goldman Sachs Group, Inc. (The)’s price objective suggests a potential upside of 13.61% from the stock’s current price.
A number of other equities research analysts have also weighed in on ALGN. Stifel Nicolaus reaffirmed a “buy” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Align Technology in a report on Monday, August 7th. Robert W. Baird reaffirmed a “buy” rating on shares of Align Technology in a report on Tuesday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Align Technology in a report on Monday. Bank of America Corporation raised Align Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $175.00 to $193.00 in a report on Friday, July 28th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $199.00 price objective (up previously from $194.00) on shares of Align Technology in a report on Friday, July 28th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Align Technology has an average rating of “Buy” and a consensus target price of $179.82.
Align Technology (NASDAQ ALGN) traded up 0.17% during trading on Friday, reaching $185.17. The company had a trading volume of 259,816 shares. Align Technology has a 1-year low of $83.27 and a 1-year high of $186.10. The stock has a market capitalization of $14.84 billion, a price-to-earnings ratio of 63.41 and a beta of 1.55. The firm has a 50-day moving average of $174.44 and a 200-day moving average of $142.87.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The company had revenue of $356.50 million for the quarter, compared to analyst estimates of $343.43 million. During the same quarter in the previous year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 32.3% compared to the same quarter last year. On average, analysts anticipate that Align Technology will post $3.40 EPS for the current fiscal year.
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Several institutional investors have recently modified their holdings of the stock. Navellier & Associates Inc raised its position in shares of Align Technology by 4.5% during the 2nd quarter. Navellier & Associates Inc now owns 68,761 shares of the medical equipment provider’s stock worth $10,322,000 after purchasing an additional 2,963 shares during the last quarter. Sentry Investment Management LLC acquired a new position in Align Technology in the 2nd quarter valued at $882,000. Ashford Capital Management Inc. raised its holdings in Align Technology by 46.9% in the 2nd quarter. Ashford Capital Management Inc. now owns 6,941 shares of the medical equipment provider’s stock valued at $1,042,000 after acquiring an additional 2,216 shares during the last quarter. Toronto Dominion Bank raised its holdings in Align Technology by 3,163.1% in the 2nd quarter. Toronto Dominion Bank now owns 25,583 shares of the medical equipment provider’s stock valued at $3,840,000 after acquiring an additional 24,799 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in Align Technology in the 2nd quarter valued at $470,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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