November 28, 2016 - By Clifton Ray
New York: In a note revealed to clients and investors on Monday morning, Stifel Nicolaus reconfirmed their Buy rating on shares of Align Technology (NASDAQ:ALGN). They currently have a $110.00 PT on the firm. Stifel Nicolaus’s target means a potential upside of 14.36% from the company’s close price.
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 -18.62% below today’s ($96.2) stock price. Align Technology has been the topic of 14 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Credit Suisse initiated Align Technology, Inc. (NASDAQ:ALGN) on Wednesday, May 11 with “Outperform” rating. The stock of Align Technology, Inc. (NASDAQ:ALGN) earned “Outperform” rating by Leerink Swann on Friday, September 11. Roth Capital maintained it with “Buy” rating and $80 target price in Wednesday, March 23 report. The firm earned “Neutral” rating on Monday, October 3 by Robert W. Baird. The stock has “Buy” rating given by Stifel Nicolaus on Friday, October 23. The firm has “Buy” rating given on Friday, January 29 by Stifel Nicolaus. Piper Jaffray initiated Align Technology, Inc. (NASDAQ:ALGN) on Wednesday, November 18 with “Overweight” rating.
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 35.90 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 increased, 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.
Weaver C Barksdale And Assocs has 0.01% invested in the company for 51 shares. Stephens Ar last reported 87,636 shares in the company. Healthcor Management Ltd Partnership last reported 41,730 shares in the company. Hsbc Plc has 0% invested in the company for 6,594 shares. Granite Point Cap Mngmt Limited Partnership has 12,600 shares for 0.44% of their US portfolio. Nationwide Fund last reported 0.14% of its portfolio in the stock. Ngam Advsr L P holds 0.01% or 12,098 shares in its portfolio. Cipher L P has invested 0.12% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN). Cornerstone Ltd Liability, a New York-based fund reported 30,989 shares. Wells Fargo Mn has 1.77 million shares for 0.06% of their US portfolio. The Florida-based State Board Of Administration Of Florida Retirement has invested 0.03% in Align Technology, Inc. (NASDAQ:ALGN). Wesbanco Bancorporation holds 11,743 shares or 0.06% of its portfolio. Blackrock Institutional Na holds 2.22M shares or 0.03% of its portfolio. Palo Alto Investors Limited, a California-based fund reported 36,357 shares. Rmb Mgmt Ltd Co owns 252,949 shares or 1.06% of their US portfolio.
Insider Transactions: Since August 9, 2016, the stock had 0 insider purchases, and 7 insider sales for $12.87 million net activity. $979,130 worth of Align Technology, Inc. (NASDAQ:ALGN) was sold by SANTORA GREG J. Relic Zelko also sold $1.30 million worth of Align Technology, Inc. (NASDAQ:ALGN) shares. LACOB JOSEPH sold $3.45 million worth of Align Technology, Inc. (NASDAQ:ALGN) on Tuesday, November 15. 3,000 shares were sold by Tay Julie, worth $277,800. Another trade for 799 shares valued at $74,545 was made by Olson Jennifer on Monday, August 29. 11,152 shares with value of $1.07 million were sold by WHITE DAVID L on Friday, November 18.
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 Clifton Ray