Align Technology, Inc. (ALGN) Receives $349.03 Average PT from Brokerages
Shares of Align Technology, Inc. (NASDAQ:ALGN) have been assigned an average rating of “Buy” from the nineteen analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $338.09.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Align Technology from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Morgan Stanley reduced their price objective on Align Technology from $300.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 4th. Barclays reissued a “buy” rating and issued a $275.00 price objective on shares of Align Technology in a research note on Sunday, January 6th. ValuEngine lowered Align Technology from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, BidaskClub downgraded Align Technology from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th.
NASDAQ ALGN traded down $4.39 during mid-day trading on Friday, reaching $198.25. 1,015,349 shares of the stock were exchanged, compared to its average volume of 1,546,286. The company has a market capitalization of $16.02 billion, a PE ratio of 50.96, a price-to-earnings-growth ratio of 1.45 and a beta of 1.91. Align Technology has a 1 year low of $177.93 and a 1 year high of $398.88.
In other Align Technology news, SVP Sreelakshmi Kolli sold 5,000 shares of the stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $223.15, for a total value of $1,115,750.00. Following the sale, the senior vice president now directly owns 27,180 shares of the company’s stock, valued at $6,065,217. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher C. Puco sold 8,764 shares of the firm’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $227.42, for a total value of $1,993,108.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,764 shares of company stock worth $5,427,059. 1.40% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of ALGN. BlackRock Inc. raised its position in Align Technology by 2.2% in the 3rd quarter. BlackRock Inc. now owns 5,264,644 shares of the medical equipment provider’s stock valued at $2,059,633,000 after purchasing an additional 113,728 shares during the last quarter. FMR LLC raised its holdings in Align Technology by 6.2% during the third quarter. FMR LLC now owns 1,811,522 shares of the medical equipment provider’s stock worth $708,704,000 after acquiring an additional 106,012 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in Align Technology by 1.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 938,023 shares of the medical equipment provider’s stock valued at $366,973,000 after buying an additional 9,958 shares during the period. Winslow Capital Management LLC increased its stake in shares of Align Technology by 30.2% during the third quarter. Winslow Capital Management LLC now owns 564,651 shares of the medical equipment provider’s stock worth $220,903,000 after purchasing an additional 130,982 shares during the period. Finally, TIAA CREF Investment Management LLC grew its position in Align Technology by 22.7% during the third quarter. TIAA CREF Investment Management LLC now owns 480,391 shares of the medical equipment provider’s stock worth $187,939,000 after buying an additional 88,731 shares in the last quarter. 77.80% of the stock is currently owned by institutional investors and hedge funds.
Align Technology Company Profile
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
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