Align Technology, Inc. (NASDAQ:ALGN) has been assigned an average rating of “Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $253.58.
Several analysts have issued reports on the company. Piper Jaffray Companies restated a “buy” rating and issued a $300.00 price objective on shares of Align Technology in a research note on Wednesday, January 31st. Credit Suisse Group upped their price objective on Align Technology from $276.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Stifel Nicolaus upped their price objective on Align Technology from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. BidaskClub lowered Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research lowered Align Technology from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st.
Shares of Align Technology (ALGN) opened at $233.13 on Tuesday. The stock has a market capitalization of $18,690.00, a P/E ratio of 82.38, a price-to-earnings-growth ratio of 1.75 and a beta of 1.48. Align Technology has a 52 week low of $95.17 and a 52 week high of $287.32.
In related news, 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 transaction of $1,324,992.00. Following the sale, the vice president now owns 80,762 shares of the company’s stock, valued at $21,295,324.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John Morici sold 1,500 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $255.00, for a total value of $382,500.00. Following the sale, the chief financial officer now directly owns 1,544 shares in the company, valued at approximately $393,720. The disclosure for this sale can be found here. Insiders sold 82,029 shares of company stock worth $21,369,243 in the last ninety days. 1.60% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. USA Mutuals Advisors Inc. acquired a new stake in Align Technology during the fourth quarter worth approximately $101,000. Whittier Trust Co. acquired a new stake in Align Technology during the third quarter worth approximately $107,000. Whittier Trust Co. of Nevada Inc. grew its position in Align Technology by 166.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the medical equipment provider’s stock worth $112,000 after buying an additional 315 shares in the last quarter. Meritage Portfolio Management acquired a new stake in Align Technology during the fourth quarter worth approximately $201,000. Finally, Dai Ichi Life Insurance Company Ltd acquired a new stake in Align Technology during the third quarter worth approximately $211,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.
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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