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.
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.
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.
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