Credit Suisse Group Reiterates Positive Rating for Align Technology, Inc. (ALGN)
Align Technology, Inc. (NASDAQ:ALGN)‘s stock had its “positive” rating restated by equities research analysts at Credit Suisse Group in a research report issued to clients and investors on Thursday. They presently have a $261.00 target price on the medical equipment provider’s stock, up from their previous target price of $209.00. Credit Suisse Group’s price objective indicates a potential upside of 4.63% from the company’s current price.
ALGN has been the subject of a number of other research reports. Stifel Nicolaus reissued a “buy” rating and set a $225.00 target price (up previously from $205.00) on shares of Align Technology in a research report on Thursday, October 19th. Northcoast Research reissued a “buy” rating and set a $230.00 target price (up previously from $200.00) on shares of Align Technology in a research report on Tuesday, October 10th. Bank of America Corporation upgraded shares of Align Technology from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $175.00 to $193.00 in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price objective on the stock in a report on Monday, October 30th. Finally, Robert W. Baird restated a “buy” rating on shares of Align Technology in a report on Tuesday, September 12th. Eleven research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $219.18.
Align Technology (NASDAQ:ALGN) opened at $249.46 on Thursday. The firm has a market cap of $20,014.76, a price-to-earnings ratio of 73.86, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. Align Technology has a 52-week low of $88.56 and a 52-week high of $254.19.
Align Technology (NASDAQ:ALGN) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The firm had revenue of $385.30 million during the quarter, compared to analyst estimates of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The business’s revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. equities research analysts anticipate that Align Technology will post 3.62 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This news story was first reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://www.watchlistnews.com/credit-suisse-group-reiterates-positive-rating-for-align-technology-inc-algn/1694794.html.
In related news, CMO Raphael Pascaud sold 5,400 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $241.88, for a total value of $1,306,152.00. Following the sale, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at $5,376,508.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Greg J. Santora sold 7,700 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Zeke Capital Advisors LLC bought a new stake in Align Technology in the third quarter valued at about $318,000. Dai Ichi Life Insurance Company Ltd bought a new stake in Align Technology in the third quarter valued at about $211,000. Axiom International Investors LLC DE bought a new stake in Align Technology in the third quarter valued at about $27,525,000. Schroder Investment Management Group increased its stake in Align Technology by 242.9% in the third quarter. Schroder Investment Management Group now owns 2,400 shares of the medical equipment provider’s stock valued at $439,000 after acquiring an additional 1,700 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Align Technology by 4.6% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,867 shares of the medical equipment provider’s stock valued at $1,093,000 after acquiring an additional 257 shares during the period. 81.16% 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.
Receive News & Ratings for Align Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.