Is Align Tech (ALGN) Finally Worth Your Time? What Does Evercore ISI Think?

May 17, 2018 - By Jason Grubb

Align Technology, Inc. (NASDAQ:ALGN) Logo

Investors sentiment is 0.93 in 2017 Q4. Its the same as in 2017Q3. It is the same, 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.

Virtus Investment Advisers, Connecticut-based fund reported 14,559 shares. Sequoia Fincl Advsrs Lc has invested 0.03% in Align Technology, Inc. (NASDAQ:ALGN). First Quadrant L P Ca holds 0.07% or 16,800 shares. Advisory Services Network Ltd Liability Com invested 0.16% in Align Technology, Inc. (NASDAQ:ALGN). Moreover, Smith Asset Management Gru L P has 1.08% invested in Align Technology, Inc. (NASDAQ:ALGN). Aqr Capital Limited invested in 130,895 shares or 0.03% of the stock. Amp Cap holds 0.07% or 60,520 shares. California Employees Retirement Systems has 0.07% invested in Align Technology, Inc. (NASDAQ:ALGN) for 241,142 shares. Fred Alger Mngmt accumulated 0.08% or 74,947 shares. Moreover, Panagora Asset Mgmt has 0.01% invested in Align Technology, Inc. (NASDAQ:ALGN). Fmr Ltd Limited Liability Company holds 0.01% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 436,457 shares. Rathbone Brothers Plc has 2.2% invested in Align Technology, Inc. (NASDAQ:ALGN) for 242,900 shares. Cwm Ltd Co holds 1,192 shares. Gamco Invsts Et Al holds 0% or 1,200 shares in its portfolio. Moreover, Visionary Asset has 0.11% invested in Align Technology, Inc. (NASDAQ:ALGN).

Since February 2, 2018, it had 1 insider buy, and 7 sales for $51.00 million activity. LACOB JOSEPH also sold $5.79M worth of Align Technology, Inc. (NASDAQ:ALGN) shares. The insider HOGAN JOSEPH M bought 1,500 shares worth $350,445. Shares for $641,250 were sold by Tay Julie. $1.07M worth of Align Technology, Inc. (NASDAQ:ALGN) was sold by Olson Jennifer. LARKIN C RAYMOND JR had sold 15,000 shares worth $3.97M on Monday, May 7. PRESCOTT THOMAS M sold $20.73 million worth of stock.

Why Has Evercore ISI Given Align Tech (ALGN) a $340.0 Price Target

Equity research analysts at Evercore ISI has begun coverage on Align Tech (ALGN) with a key “Outperform” rating. The target for ALGN is exactly $340.0. It gives a possible upside of 18.07 % from company’s close price.

The stock increased 1.65% or $4.76 during the last trading session, reaching $292.72. About 780,768 shares traded. Align Technology, Inc. (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 earnings per share, up 24.71 % or $0.21 from last year’s $0.85 per share. ALGN’s profit will be $84.96 million for 69.04 P/E if the $1.06 EPS becomes a reality. After $1.17 actual earnings per share 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: Fool.com which released: “Why Align Technology, Taiwan Semiconductor Manufacturing, and Clorox Slumped Today” on April 19, 2018, also Investorplace.com with their article: “Morgan Stanley Is Right to Worry About Align Technology, Inc. (ALGN) Stock” published on April 24, 2018, Globenewswire.com published: “Align Technology Announces First Quarter 2018 Financial Results” on April 25, 2018. More interesting news about Align Technology, Inc. (NASDAQ:ALGN) were released by: Benzinga.com and their article: “Align Tech Faces Slowing Growth, Potential Headwinds, Morgan Stanley Says In Downgrade” published on April 20, 2018 as well as Benzinga.com‘s news article titled: “Jim Cramer Weighs In On Align Technology, Berkshire Hathaway, Symantec And More” with publication date: May 15, 2018.

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

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