Align Technology, Inc. (ALGN) Stock Rating Reaffirmed by Leerink Swann

Leerink Swann restated their outperform rating on shares of Align Technology, Inc. (NASDAQ:ALGN) in a research note issued to investors on Friday, July 28th. Leerink Swann currently has a $199.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $194.00. Leerink Swann also issued estimates for Align Technology’s Q3 2017 earnings at $0.80 EPS, FY2017 earnings at $3.39 EPS, Q1 2018 earnings at $0.86 EPS, Q2 2018 earnings at $1.00 EPS, Q3 2018 earnings at $1.11 EPS, Q4 2018 earnings at $1.19 EPS, FY2018 earnings at $4.15 EPS, FY2019 earnings at $5.12 EPS and FY2020 earnings at $6.14 EPS.

Several other analysts have also commented on the company. Piper Jaffray Companies reiterated a buy rating and set a $176.00 price objective on shares of Align Technology in a report on Friday, July 28th. Bank of America Corporation upgraded Align Technology from a neutral rating to a buy rating and increased their price objective for the company from $175.00 to $193.00 in a report on Friday, July 28th. Morgan Stanley reiterated an overweight rating and set a $182.00 price objective (up previously from $175.00) on shares of Align Technology in a report on Monday, July 17th. Credit Suisse Group reiterated an outperform rating and set a $170.00 price objective (up previously from $140.00) on shares of Align Technology in a report on Thursday, July 13th. Finally, Stifel Nicolaus reissued a buy rating and issued a $200.00 target price (up from $145.00) on shares of Align Technology in a research report on Friday, June 23rd. Ten investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and a consensus target price of $174.40.

Align Technology (ALGN) traded up 2.78% during mid-day trading on Friday, hitting $174.01. The company’s stock had a trading volume of 1,088,097 shares. The firm’s 50-day moving average is $153.72 and its 200-day moving average is $125.88. The company has a market cap of $13.95 billion, a P/E ratio of 59.59 and a beta of 1.55. Align Technology has a 12-month low of $83.27 and a 12-month high of $174.82.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The firm had revenue of $356.50 million during the quarter, compared to analyst estimates of $343.43 million. During the same quarter in the prior year, the business posted $0.62 EPS. The business’s revenue for the quarter was up 32.3% compared to the same quarter last year. Analysts predict that Align Technology will post $3.40 EPS for the current fiscal year.

In other Align Technology news, VP Sreelakshmi Kolli sold 1,000 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $144.00, for a total transaction of $144,000.00. Following the sale, the vice president now directly owns 23,785 shares of the company’s stock, valued at approximately $3,425,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Lacob sold 50,000 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $144.98, for a total value of $7,249,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 54,874 shares of company stock worth $7,950,701 over the last ninety days. 2.00% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in ALGN. Honkamp Krueger Financial Services Inc. increased its stake in shares of Align Technology by 1.7% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock valued at $306,000 after buying an additional 34 shares in the last quarter. Intellectus Partners LLC increased its stake in shares of Align Technology by 1.2% in the first quarter. Intellectus Partners LLC now owns 3,498 shares of the medical equipment provider’s stock valued at $401,000 after buying an additional 41 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Align Technology by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,917 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 52 shares in the last quarter. Security Asset Management increased its stake in shares of Align Technology by 0.5% in the second quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock valued at $1,912,000 after buying an additional 65 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Align Technology by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock valued at $121,000 after buying an additional 68 shares in the last quarter. 87.13% of the stock is currently owned by institutional investors.

Align Technology Company Profile

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.