Align Technology, Inc. (ALGN) Rating Reiterated by Jefferies Group LLC

Jefferies Group LLC reaffirmed their buy rating on shares of Align Technology, Inc. (NASDAQ:ALGN) in a research report sent to investors on Thursday morning. They currently have a $150.00 target price on the medical equipment provider’s stock.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Align Technology from a hold rating to a buy rating and set a $128.00 target price on the stock in a report on Tuesday, April 11th. Robert W. Baird upgraded shares of Align Technology from a neutral rating to an outperform rating and raised their target price for the stock from $105.00 to $155.00 in a report on Friday, April 28th. Leerink Swann restated an outperform rating and issued a $149.00 target price (up previously from $118.00) on shares of Align Technology in a report on Saturday, April 29th. Finally, Stifel Nicolaus restated a buy rating and issued a $130.00 target price on shares of Align Technology in a report on Tuesday, April 11th. Six investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and a consensus price target of $137.67.

Shares of Align Technology (ALGN) opened at 148.62 on Thursday. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 55.46 and a beta of 1.40. Align Technology has a 12-month low of $77.07 and a 12-month high of $150.56. The firm’s 50-day moving average is $134.92 and its 200-day moving average is $110.02.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.67 by $0.18. The firm had revenue of $310.34 million for the quarter, compared to the consensus estimate of $297.46 million. Align Technology had a net margin of 17.57% and a return on equity of 20.82%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. On average, equities analysts predict that Align Technology will post $3.24 EPS for the current year.

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In related news, VP Sreelakshmi Kolli sold 1,000 shares of Align Technology stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $144.00, for a total value of $144,000.00. Following the sale, the vice president now owns 23,785 shares in the company, valued at $3,425,040. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Lacob sold 3,874 shares of Align Technology stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $143.96, for a total transaction of $557,701.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,874 shares of company stock worth $7,950,701. 2.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Logan Capital Management Inc. bought a new stake in Align Technology during the third quarter valued at $13,544,000. Marietta Investment Partners LLC boosted its stake in Align Technology by 81.9% in the third quarter. Marietta Investment Partners LLC now owns 66,581 shares of the medical equipment provider’s stock valued at $6,242,000 after buying an additional 29,971 shares during the period. DE Burlo Group Inc. bought a new stake in Align Technology during the third quarter valued at $5,418,000. Nomura Asset Management Co. Ltd. bought a new stake in Align Technology during the third quarter valued at $858,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Align Technology by 14.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,179 shares of the medical equipment provider’s stock valued at $204,000 after buying an additional 281 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ALGN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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