Equities researchers at Deutsche Bank started coverage on shares of Align Technology (NASDAQ:ALGN) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage set a “hold” rating and a $250.00 price target on the medical equipment provider’s stock. Deutsche Bank’s target price would suggest a potential upside of 4.85% from the stock’s current price.

Several other analysts have also recently weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and issued a $290.00 price target on shares of Align Technology in a report on Wednesday, November 29th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $276.00 price target (up previously from $261.00) on shares of Align Technology in a report on Tuesday, November 28th. Morgan Stanley raised their price target on Align Technology from $257.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, November 27th. Stifel Nicolaus raised their price target on Align Technology from $245.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Finally, Zacks Investment Research raised Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target on the stock in a report on Monday, October 30th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $236.75.

Align Technology (ALGN) traded down $2.95 during trading hours on Friday, hitting $238.43. The company’s stock had a trading volume of 1,004,117 shares, compared to its average volume of 1,024,627. Align Technology has a 1 year low of $88.56 and a 1 year high of $266.41. The stock has a market cap of $18,682.21, a PE ratio of 68.94, a P/E/G ratio of 2.23 and a beta of 1.43.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.19. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The firm had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. During the same quarter last year, the firm posted $0.63 EPS. The company’s revenue was up 38.3% compared to the same quarter last year. equities analysts forecast that Align Technology will post 3.62 earnings per share for the current year.

In other news, CFO John Morici sold 1,500 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $255.00, for a total transaction of $382,500.00. Following the transaction, the chief financial officer now directly owns 1,544 shares in the company, valued at approximately $393,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg J. Santora sold 7,700 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,849 shares of company stock worth $13,494,348 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Align Technology by 16.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after acquiring an additional 1,034,254 shares during the last quarter. Polen Capital Management LLC grew its position in Align Technology by 6.8% during the 2nd quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock worth $504,789,000 after acquiring an additional 212,773 shares during the last quarter. State Street Corp grew its position in Align Technology by 32.2% during the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after acquiring an additional 765,189 shares during the last quarter. Bank of New York Mellon Corp grew its position in Align Technology by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,946,097 shares of the medical equipment provider’s stock worth $362,499,000 after acquiring an additional 42,570 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Align Technology by 11.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock worth $238,343,000 after acquiring an additional 160,881 shares during the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.

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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.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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