Align Technology (ALGN) Research Coverage Started at Deutsche Bank

Equities research analysts at Deutsche Bank started coverage on shares of Align Technology (NASDAQ:ALGN) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the medical equipment provider’s stock.

A number of other research analysts also recently issued reports on ALGN. Zacks Investment Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Piper Jaffray Companies restated a “buy” rating and issued a $200.00 price objective on shares of Align Technology in a research note on Monday, September 11th. Robert W. Baird restated a “buy” rating on shares of Align Technology in a research note on Tuesday, September 12th. Goldman Sachs Group upped their price objective on Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 price target (up previously from $195.00) on shares of Align Technology in a research report on Friday, October 6th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $235.55.

Shares of Align Technology (NASDAQ ALGN) opened at $241.38 on Friday. Align Technology has a 1-year low of $88.56 and a 1-year high of $266.41. The stock has a market capitalization of $18,682.21, a price-to-earnings ratio of 68.94, a P/E/G ratio of 2.23 and a beta of 1.43.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.19. The firm had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. equities analysts expect that Align Technology will post 3.62 earnings per share for the current fiscal year.

In other news, CMO Raphael Pascaud sold 5,400 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the transaction, the chief marketing officer now directly owns 22,228 shares in the company, valued at approximately $5,376,508.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Morici sold 1,500 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $255.00, for a total value of $382,500.00. Following the transaction, the chief financial officer now owns 1,544 shares in the company, valued at $393,720. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,849 shares of company stock worth $13,494,348. Insiders own 1.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group bought a new position in Align Technology during the 2nd quarter worth approximately $104,000. Whittier Trust Co. bought a new position in Align Technology during the 3rd quarter worth approximately $107,000. Bronfman E.L. Rothschild L.P. grew its position in Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after acquiring an additional 105 shares during the last quarter. BlueMountain Capital Management LLC bought a new position in Align Technology during the 2nd quarter worth approximately $148,000. Finally, Commonwealth Bank of Australia grew its position in Align Technology by 10.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock worth $169,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.

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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.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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