Align Technology, Inc. (NASDAQ:ALGN) shares traded down 5.1% on Friday after Robert W. Baird lowered their price target on the stock from $745.00 to $650.00. The company traded as low as $477.80 and last traded at $477.80. 19,683 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,065,050 shares. The stock had previously closed at $503.31.
A number of other equities research analysts have also commented on the stock. The Goldman Sachs Group lowered shares of Align Technology to a “buy” rating and set a $810.00 price target for the company. in a report on Thursday, October 28th. Morgan Stanley began coverage on shares of Align Technology in a report on Monday. They issued an “overweight” rating and a $575.00 price objective for the company. Piper Sandler upped their price objective on shares of Align Technology from $775.00 to $825.00 and gave the stock an “overweight” rating in a report on Thursday, October 28th. Stifel Nicolaus decreased their price objective on shares of Align Technology from $675.00 to $625.00 and set a “buy” rating for the company in a report on Thursday. Finally, UBS Group upgraded shares of Align Technology from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $880.00 to $620.00 in a report on Monday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $691.33.
In related news, Director Warren S. Thaler sold 5,000 shares of the stock in a transaction dated Wednesday, November 10th. The shares were sold at an average price of $703.06, for a total transaction of $3,515,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John Morici sold 3,000 shares of the stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $699.08, for a total transaction of $2,097,240.00. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. BerganKDV Wealth Management LLC lifted its stake in Align Technology by 160.0% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 39 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 24 shares during the period. Harbor Investment Advisory LLC lifted its stake in Align Technology by 200.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 39 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 26 shares during the period. Baldwin Brothers LLC MA bought a new position in Align Technology during the 3rd quarter valued at about $27,000. Lindbrook Capital LLC lifted its stake in shares of Align Technology by 78.3% in the 3rd quarter. Lindbrook Capital LLC now owns 41 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 18 shares during the period. Finally, MUFG Americas Holdings Corp bought a new position in shares of Align Technology in the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 84.07% of the company’s stock.
The company’s 50 day moving average price is $580.35 and its two-hundred day moving average price is $640.52. The stock has a market cap of $37.77 billion, a P/E ratio of 54.12, a PEG ratio of 1.94 and a beta of 1.68.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Tuesday, February 1st. The medical equipment provider reported $2.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.73 by $0.10. Align Technology had a net margin of 19.70% and a return on equity of 21.88%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business earned $2.00 EPS. The business’s quarterly revenue was up 23.6% on a year-over-year basis. Research analysts predict that Align Technology, Inc. will post 9.04 EPS for the current year.
About Align Technology (NASDAQ:ALGN)
Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of invisalign full, teen, and assist products, and vivera retainers for treating malocclusion.