Align Technology (NASDAQ:ALGN) had its price target decreased by Credit Suisse Group from $340.00 to $320.00 in a research note released on Thursday, The Fly reports. Credit Suisse Group currently has an outperform rating on the medical equipment provider’s stock.

ALGN has been the topic of several other research reports. BidaskClub upgraded Xilinx from a hold rating to a buy rating in a report on Wednesday. Piper Jaffray Companies raised their price objective on Baxter International from $90.00 to $95.00 and gave the stock an overweight rating in a report on Thursday. Guggenheim started coverage on Patterson Companies in a report on Wednesday, April 17th. They set a neutral rating and a $23.00 price objective on the stock. Wolfe Research started coverage on Waters in a report on Thursday, May 30th. They set an underperform rating on the stock. Finally, Zacks Investment Research cut HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $306.55.

Align Technology stock opened at $198.84 on Thursday. Align Technology has a fifty-two week low of $177.93 and a fifty-two week high of $398.88. The business’s fifty day moving average is $282.57. The company has a quick ratio of 1.70, a current ratio of 1.85 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $15.91 billion, a P/E ratio of 40.41, a price-to-earnings-growth ratio of 1.59 and a beta of 1.97.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.13. Align Technology had a return on equity of 29.26% and a net margin of 19.06%. The business had revenue of $600.70 million for the quarter, compared to analysts’ expectations of $599.86 million. During the same quarter last year, the firm earned $1.30 earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. Research analysts anticipate that Align Technology will post 5.24 earnings per share for the current fiscal year.

In related news, SVP Julie Tay sold 13,500 shares of Align Technology stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $322.41, for a total value of $4,352,535.00. Following the transaction, the senior vice president now owns 24,096 shares in the company, valued at $7,768,791.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Morici sold 2,374 shares of Align Technology stock in a transaction on Friday, May 31st. The shares were sold at an average price of $286.91, for a total value of $681,124.34. Following the completion of the transaction, the chief financial officer now owns 2,913 shares in the company, valued at approximately $835,768.83. The disclosure for this sale can be found here. Insiders sold 55,283 shares of company stock worth $17,483,871 in the last quarter. 1.30% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of ALGN. Advisor Partners LLC increased its position in shares of Align Technology by 11.3% during the second quarter. Advisor Partners LLC now owns 2,634 shares of the medical equipment provider’s stock worth $721,000 after acquiring an additional 267 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in shares of Align Technology by 955.0% during the second quarter. Virginia Retirement Systems ET AL now owns 21,100 shares of the medical equipment provider’s stock worth $5,775,000 after acquiring an additional 19,100 shares during the last quarter. Foresight Wealth Management LLC increased its position in shares of Align Technology by 5.5% during the second quarter. Foresight Wealth Management LLC now owns 1,040 shares of the medical equipment provider’s stock worth $285,000 after acquiring an additional 54 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Align Technology by 10.7% during the second quarter. Ballentine Partners LLC now owns 1,114 shares of the medical equipment provider’s stock worth $305,000 after acquiring an additional 108 shares during the last quarter. Finally, Wetherby Asset Management Inc. increased its position in shares of Align Technology by 11.4% during the second quarter. Wetherby Asset Management Inc. now owns 1,305 shares of the medical equipment provider’s stock worth $357,000 after acquiring an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 82.54% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

Further Reading: Gross Domestic Product (GDP)

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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