Guggenheim assumed coverage on shares of Align Technology (NASDAQ:ALGN) in a report published on Wednesday, BenzingaRatingsTable reports. The firm issued a buy rating and a $335.00 target price on the medical equipment provider’s stock.

ALGN has been the subject of several other reports. ValuEngine downgraded Align Technology from a buy rating to a hold rating in a research note on Wednesday, January 2nd. Zacks Investment Research downgraded Align Technology from a hold rating to a sell rating in a research note on Tuesday, January 29th. Robert W. Baird raised their target price on Align Technology from $255.00 to $286.00 and gave the company an outperform rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Credit Suisse Group lowered their target price on Align Technology from $277.00 to $270.00 and set an outperform rating for the company in a research note on Wednesday, January 30th. Finally, BidaskClub upgraded Align Technology from a hold rating to a buy rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. Align Technology presently has a consensus rating of Buy and a consensus target price of $331.07.

Shares of Align Technology stock opened at $281.49 on Wednesday. The stock has a market cap of $22.52 billion, a PE ratio of 57.21, a price-to-earnings-growth ratio of 2.67 and a beta of 2.13. Align Technology has a 1-year low of $177.93 and a 1-year high of $398.88.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. The company had revenue of $534.02 million during the quarter, compared to the consensus estimate of $512.03 million. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. Sell-side analysts predict that Align Technology will post 5.08 EPS for the current fiscal year.

In other Align Technology news, Director Yuval Shaked sold 400 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $255.52, for a total value of $102,208.00. Following the transaction, the director now owns 24 shares of the company’s stock, valued at $6,132.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Julie Tay sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $254.58, for a total transaction of $318,225.00. Following the completion of the transaction, the senior vice president now directly owns 11,926 shares in the company, valued at approximately $3,036,121.08. The disclosure for this sale can be found here. Insiders have sold 21,650 shares of company stock worth $5,586,633 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ALGN. Captrust Financial Advisors lifted its holdings in Align Technology by 67.6% in the fourth quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Berman Capital Advisors LLC bought a new position in Align Technology in the fourth quarter worth about $27,000. Gemmer Asset Management LLC lifted its holdings in Align Technology by 57.3% in the fourth quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 51 shares during the last quarter. Sontag Advisory LLC bought a new position in Align Technology in the fourth quarter worth about $30,000. Finally, JOYN Advisors Inc. lifted its holdings in Align Technology by 153.4% in the fourth quarter. JOYN Advisors Inc. now owns 147 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 89 shares during the last quarter. 82.77% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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