November 28, 2016 - By Darrin Black
Stifel have a $110 target price per share on the stock. The target price per share would indicate a potential upside of 14.36% from Align Tech (NASDAQ:ALGN)‘s last stock price. This rating was revealed to clients and investors in an analyst note on 28 November.
Out of 8 analysts covering Align Technology (NASDAQ:ALGN), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. $84 is the highest target while $72 is the lowest. The $78.29 average target is -18.61% below today’s ($96.19) stock price. Align Technology has been the topic of 14 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, October 23 by Stifel Nicolaus. As per Wednesday, March 23, the company rating was maintained by Roth Capital. On Friday, January 29 the stock rating was maintained by Stifel Nicolaus with “Buy”. Piper Jaffray initiated the shares of ALGN in a report on Wednesday, November 18 with “Overweight” rating. The company was downgraded on Monday, October 3 by Robert W. Baird. Credit Suisse initiated Align Technology, Inc. (NASDAQ:ALGN) on Wednesday, May 11 with “Outperform” rating. As per Friday, September 11, the company rating was initiated by Leerink Swann.
The stock increased 0.67% or $0.64 during the last trading session, hitting $96.19. About 400 shares traded hands. Align Technology, Inc. (NASDAQ:ALGN) has risen 29.50% since April 25, 2016 and is uptrending. It has outperformed by 23.48% the S&P500.
Analysts await Align Technology, Inc. (NASDAQ:ALGN) to report earnings on January, 26. They expect $0.67 EPS, up 11.67% or $0.07 from last year’s $0.6 per share. ALGN’s profit will be $53.77 million for 35.89 P/E if the $0.67 EPS becomes a reality. After $0.63 actual EPS reported by Align Technology, Inc. for the previous quarter, Wall Street now forecasts 6.35% EPS growth.
Insitutional Activity: The institutional sentiment increased to 1.41 in 2016 Q2. Its up 0.16, from 1.25 in 2016Q1. The ratio is positive, as 33 funds sold all Align Technology, Inc. shares owned while 99 reduced positions. 62 funds bought stakes while 103 increased positions. They now own 64.99 million shares or 4.19% less from 67.84 million shares in 2016Q1.
California State Teachers Retirement Systems last reported 0.03% of its portfolio in the stock. Nationwide Fund Advisors reported 397,435 shares or 0.14% of all its holdings. Piedmont Advsr Ltd last reported 17 shares in the company. Teachers Advsr has invested 0.01% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN). Friedberg Invest Mgmt accumulated 1.61% or 42,240 shares. Camarda Advsrs Ltd accumulated 307 shares or 0.02% of the stock. Columbia Wanger Asset Limited Liability Corp has 2.24% invested in the company for 2.39 million shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 1,898 shares or 0% of its portfolio. Strs Ohio has invested 0.22% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN). Princeton Port Strategies Group Lc reported 12,350 shares or 0.32% of all its holdings. Blackrock Japan Limited, a Japan-based fund reported 3,708 shares. The Utah-based Utah Retirement Sys has invested 0.03% in Align Technology, Inc. (NASDAQ:ALGN). Suntrust Banks holds 0% or 8,932 shares in its portfolio. Rmb Mgmt Ltd Llc holds 1.06% or 252,949 shares in its portfolio. Janus Capital Mgmt Ltd Com has 83,981 shares for 0.01% of their US portfolio.
Insider Transactions: Since August 9, 2016, the stock had 0 insider buys, and 7 sales for $12.87 million net activity. Another trade for 3,000 shares valued at $277,800 was made by Tay Julie on Tuesday, August 9. 10,700 shares were sold by SANTORA GREG J, worth $979,130 on Friday, November 11. WHITE DAVID L sold $1.07M worth of stock or 11,152 shares. $5.72M worth of Align Technology, Inc. (NASDAQ:ALGN) shares were sold by LACOB JOSEPH. $74,545 worth of Align Technology, Inc. (NASDAQ:ALGN) was sold by Olson Jennifer. $1.30M worth of Align Technology, Inc. (NASDAQ:ALGN) was sold by Relic Zelko on Monday, August 15.
Align Technology, Inc. designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing digital services used in dentistry, orthodontics and dental records storage. The company has a market cap of $7.72 billion. The Firm operates through two divisions: Clear Aligner segment and Scanner and Services (Scanner) segment. It has a 40.99 P/E ratio. The Clear Aligner segment consists of its Invisalign System, which includes Invisalign Full, Express/Lite, Teen, Assist and Vivera Retainers, along with its training and ancillary products for treating malocclusion.
According to Zacks Investment Research, “Align Technology Inc. designs, manufactures and markets the Invisalign System, a proprietary method for treating malocclusion. The System corrects malocclusion using a series of clear, removable appliances that gently move teeth to a desired final position. Because it does not rely on the use of metal or ceramic brackets and wires, the System significantly reduces the aesthetic and other limitations associated with braces. The Invisalign System also offers orthodontists a new means of carrying out their diagnosis and treatment planning processes.”
Align Technology, Inc., incorporated on April 3, 1997, designs, makes and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Firm operates through two divisions: Clear Aligner segment and Scanner and Services (Scanner) segment. The Clear Aligner segment consists of its Invisalign System, which includes Invisalign Full, Express/Lite, Teen, Assist and Vivera Retainers, along with its training and ancillary products for treating malocclusion. The Scanner segment consists of intra-oral scanning systems and other services available with the intra-oral scanners that provide digital alternatives to the traditional cast models. The Company’s iTero scanner is used by dental professionals, and labs and services for restorative and orthodontic digital procedures, as well as Invisalign digital impression submission.
More news for Align Technology, Inc. (NASDAQ:ALGN) were recently published by: Fool.com, which released: “Align Technology Inc. Beats Q3 Expectations With Record Invisalign Volume” on November 07, 2016. Fool.com‘s article titled: “International Sales Help Align Technology, Inc. in Q2” and published on July 29, 2016 is yet another important article.
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By Darrin Black