Align Technology (ALGN) Stock Rating Lowered by BidaskClub

Align Technology (NASDAQ:ALGN) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other research analysts also recently commented on ALGN. Stifel Nicolaus increased their target price on Align Technology from $265.00 to $295.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Zacks Investment Research raised Align Technology from a “hold” rating to a “buy” rating and set a $318.00 target price on the stock in a report on Monday, January 29th. Stephens downgraded Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 target price on the stock. in a report on Friday, January 19th. Credit Suisse Group increased their target price on Align Technology from $276.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, Leerink Swann increased their target price on Align Technology from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $258.54.

Align Technology (NASDAQ:ALGN) opened at $229.37 on Friday. The company has a market capitalization of $18,390.43, a PE ratio of 80.76, a P/E/G ratio of 1.75 and a beta of 1.48. Align Technology has a 1-year low of $95.17 and a 1-year high of $287.32.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. The firm had revenue of $421.30 million during the quarter, compared to the consensus estimate of $395.88 million. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. Align Technology’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share. analysts anticipate that Align Technology will post 4.49 earnings per share for the current fiscal year.

In other news, Director Joseph Lacob sold 29,724 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $260.91, for a total transaction of $7,755,288.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Emory Wright sold 5,025 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $263.68, for a total value of $1,324,992.00. Following the sale, the vice president now owns 80,762 shares in the company, valued at $21,295,324.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,529 shares of company stock worth $22,254,743. 1.60% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new stake in shares of Align Technology during the 3rd quarter worth approximately $2,875,000. Rhumbline Advisers raised its position in shares of Align Technology by 4.9% during the 3rd quarter. Rhumbline Advisers now owns 150,816 shares of the medical equipment provider’s stock worth $28,092,000 after purchasing an additional 7,032 shares during the period. National Pension Service raised its position in shares of Align Technology by 98,968.3% during the 4th quarter. National Pension Service now owns 81,236 shares of the medical equipment provider’s stock worth $18,050,000 after purchasing an additional 81,154 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Align Technology during the 2nd quarter worth approximately $454,000. Finally, HWG Holdings LP raised its position in shares of Align Technology by 579.3% during the 4th quarter. HWG Holdings LP now owns 3,057 shares of the medical equipment provider’s stock worth $679,000 after purchasing an additional 2,607 shares during the period. Institutional investors and hedge funds own 82.50% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/11/align-technology-algn-stock-rating-lowered-by-bidaskclub.html.

Align Technology Company Profile

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)

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply