Needham & Company LLC reaffirmed their hold rating on shares of Align Technology (NASDAQ:ALGN – Free Report) in a research note issued to investors on Monday, Benzinga reports.
Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus decreased their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Piper Sandler decreased their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Morgan Stanley decreased their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Evercore ISI reduced their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $276.38.
Get Our Latest Stock Report on ALGN
Align Technology Stock Up 6.0 %
Align Technology (NASDAQ:ALGN – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. During the same period in the prior year, the firm earned $1.62 earnings per share. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Align Technology will post 7.45 earnings per share for the current fiscal year.
Insider Activity
In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the transaction, the director now directly owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Norden Group LLC lifted its holdings in Align Technology by 86.9% during the 1st quarter. Norden Group LLC now owns 1,822 shares of the medical equipment provider’s stock worth $597,000 after purchasing an additional 847 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Align Technology by 81.4% during the 1st quarter. Private Advisor Group LLC now owns 2,262 shares of the medical equipment provider’s stock worth $742,000 after purchasing an additional 1,015 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Align Technology by 3.9% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,102 shares of the medical equipment provider’s stock worth $689,000 after purchasing an additional 78 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Align Technology by 1.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 8,822 shares of the medical equipment provider’s stock worth $2,893,000 after purchasing an additional 108 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Align Technology by 14.4% during the 1st quarter. Jennison Associates LLC now owns 100,300 shares of the medical equipment provider’s stock worth $32,890,000 after purchasing an additional 12,601 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.
Align Technology Company Profile
Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.
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