Evercore ISI Group: Time To Buy Align Technology (NASDAQ:ALGN)? Has $340 Valuation Target

May 17, 2018 - By Margaret Downey

Align Technology, Inc. (NASDAQ:ALGN) Logo

Investors sentiment is 0.93 in 2017 Q4. Its the same as in 2017Q3. It is without change, as 37 investors sold Align Technology, Inc. shares while 216 reduced holdings. only 100 funds opened positions while 136 raised stakes. 60.90 million shares or 3.22% less from 62.92 million shares in 2017Q3 were reported.

Tiverton Asset Management Ltd Liability Co owns 1,184 shares or 0.02% of their US portfolio. 1,941 are held by Ibm Retirement Fund. Caisse De Depot Et Placement Du Quebec holds 0% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 1,230 shares. Cleararc reported 1,842 shares or 0.06% of all its holdings. Asset Mgmt Incorporated has invested 0.15% in Align Technology, Inc. (NASDAQ:ALGN). Cibc Markets Corp has invested 0.04% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN). Pennsylvania Trust Company holds 9,291 shares or 0.09% of its portfolio. National Pension Serv holds 0.09% or 81,236 shares. Moreover, Eagle Asset Mngmt has 0.51% invested in Align Technology, Inc. (NASDAQ:ALGN). Shine Advisory Service has 0% invested in Align Technology, Inc. (NASDAQ:ALGN) for 25 shares. Envestnet Asset Mngmt has 0.02% invested in Align Technology, Inc. (NASDAQ:ALGN). Hightower Advisors Limited Company holds 0.04% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 19,422 shares. Sfmg Limited Liability reported 1,000 shares stake. Conestoga Advsrs Limited Co holds 0.12% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 13,544 shares. Sva Plumb Wealth Mngmt Ltd Liability reported 1,245 shares.

Since February 2, 2018, it had 1 buying transaction, and 7 sales for $51.00 million activity. $5.79M worth of Align Technology, Inc. (NASDAQ:ALGN) shares were sold by LACOB JOSEPH. Wright Emory sold $7.25M worth of stock. 1,500 shares were bought by HOGAN JOSEPH M, worth $350,445 on Tuesday, February 13. Another trade for 2,250 shares valued at $641,250 was made by Tay Julie on Friday, May 11. $3.97 million worth of Align Technology, Inc. (NASDAQ:ALGN) was sold by LARKIN C RAYMOND JR. PRESCOTT THOMAS M also sold $20.73 million worth of Align Technology, Inc. (NASDAQ:ALGN) shares.

Why Has Evercore ISI Group Given Align Technology (NASDAQ:ALGN) a $340 Price Target

Evercore ISI Group analyst began coverage with a “Outperform” rating on Align Technology (NASDAQ:ALGN) today and set a price target of $340. The firm’s shares opened today at 292.72.

Align Technology, Inc. (NASDAQ:ALGN) Ratings Coverage

Among 11 analysts covering Align Tech (NASDAQ:ALGN), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. Align Tech has $320 highest and $230.0 lowest target. $289.55’s average target is -1.08% below currents $292.72 stock price. Align Tech had 22 analyst reports since November 21, 2017 according to SRatingsIntel. Credit Suisse upgraded Align Technology, Inc. (NASDAQ:ALGN) on Thursday, January 4 to “Buy” rating. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, April 26 report. The firm has “Buy” rating by Stifel Nicolaus given on Tuesday, November 21. Credit Suisse maintained the shares of ALGN in report on Friday, April 6 with “Buy” rating. Stephens downgraded Align Technology, Inc. (NASDAQ:ALGN) rating on Friday, January 19. Stephens has “Hold” rating and $230.0 target. Piper Jaffray maintained the stock with “Buy” rating in Sunday, May 6 report. The stock has “Equal-Weight” rating by Morgan Stanley on Thursday, April 19. The rating was maintained by Barclays Capital with “Overweight” on Thursday, April 26. On Thursday, April 26 the stock rating was maintained by Morgan Stanley with “Equal-Weight”. The firm has “Buy” rating by Credit Suisse given on Tuesday, November 28.

The stock increased 1.65% or $4.76 during the last trading session, reaching $292.72. About 780,768 shares traded. Align Technology, Inc. (NASDAQ:ALGN) has risen 117.77% since May 17, 2017 and is uptrending. It has outperformed by 106.22% the S&P500.

Analysts await Align Technology, Inc. (NASDAQ:ALGN) to report earnings on July, 26. They expect $1.06 EPS, up 24.71 % or $0.21 from last year’s $0.85 per share. ALGN’s profit will be $84.96M for 69.04 P/E if the $1.06 EPS becomes a reality. After $1.17 actual EPS reported by Align Technology, Inc. for the previous quarter, Wall Street now forecasts -9.40 % negative EPS growth.

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. The company has market cap of $23.46 billion. The companyÂ’s Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases. It has a 103.43 P/E ratio. It also provides Invisalign Express (10 and 5) and Invisalign Lite/i7 treatments for orthodontic cases, non-comprehensive treatment relapse cases, or straightening prior to restorative or cosmetic treatments; Invisalign Go, a solution for general practitioner dentists (GPs) to identify and treat patients with mild malocclusion; SmileDirectClub aligners for minor tooth movement; custom clear aligner retainers used to maintain tooth position and correct minor relapse; and SmartTrack, a custom-engineered material that delivers force for orthodontic tooth movements.

More notable recent Align Technology, Inc. (NASDAQ:ALGN) news were published by: Globenewswire.com which released: “Align Technology Announces First Quarter 2018 Financial Results” on April 25, 2018, also Benzinga.com with their article: “Jim Cramer Weighs In On Align Technology, Berkshire Hathaway, Symantec And More” published on May 15, 2018, Globenewswire.com published: “Align Technology Provides Update Regarding SmileDirectClub (SDC) Dispute” on April 25, 2018. More interesting news about Align Technology, Inc. (NASDAQ:ALGN) were released by: Seekingalpha.com and their article: “Premarket analyst action – healthcare” published on May 17, 2018 as well as Benzinga.com‘s news article titled: “Benzinga’s Top Upgrades, Downgrades For May 17, 2018” with publication date: May 17, 2018.

Align Technology, Inc. (NASDAQ:ALGN) Institutional Positions Chart

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