What Can We Expect From Align Tech (NASDAQ:ALGN) After Evercore ISI’s Latest Coverage?

May 17, 2018 - By Ash Ash

Align Technology, Inc. (NASDAQ:ALGN) Logo

Investors sentiment is 0.93 in Q4 2017. Its the same as in 2017Q3. It has no 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.

Zwj Investment Counsel accumulated 1,600 shares or 0.03% of the stock. Schroder Investment Mgmt holds 0% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN) for 13,039 shares. Moreover, First Citizens Bancshares Company has 0.11% invested in Align Technology, Inc. (NASDAQ:ALGN) for 3,536 shares. Engineers Gate Manager L P reported 13,880 shares or 0.21% of all its holdings. Fifth Third Natl Bank stated it has 0% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN). Cibc World Corp has invested 0.04% of its portfolio in Align Technology, Inc. (NASDAQ:ALGN). 9,291 are owned by Pennsylvania Tru. The New Jersey-based Princeton Strategies Limited has invested 0.42% in Align Technology, Inc. (NASDAQ:ALGN). Regions Financial has invested 0.01% in Align Technology, Inc. (NASDAQ:ALGN). Virtus Inv Advisers Inc reported 14,559 shares stake. Fred Alger accumulated 74,947 shares or 0.08% of the stock. Hwg Holdg L P accumulated 3,057 shares. Sumitomo Mitsui Trust invested in 266,278 shares. Barbara Oil Co accumulated 2,500 shares. Lpl Fin owns 0.01% invested in Align Technology, Inc. (NASDAQ:ALGN) for 12,228 shares.

Since February 2, 2018, it had 1 insider purchase, and 7 insider sales for $51.00 million activity. $3.97M worth of Align Technology, Inc. (NASDAQ:ALGN) was sold by LARKIN C RAYMOND JR. Olson Jennifer sold $1.07M worth of Align Technology, Inc. (NASDAQ:ALGN) on Monday, May 7. 27,492 Align Technology, Inc. (NASDAQ:ALGN) shares with value of $7.25 million were sold by Wright Emory. Tay Julie also sold $641,250 worth of Align Technology, Inc. (NASDAQ:ALGN) on Friday, May 11. PRESCOTT THOMAS M had sold 82,000 shares worth $20.73M on Monday, April 30. $5.79 million worth of Align Technology, Inc. (NASDAQ:ALGN) was sold by LACOB JOSEPH.

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

Evercore ISI analyst has started coverage on Align Tech (NASDAQ:ALGN) with a $340 target price per share and “Outperform” rating. The target price per share would indicate a potential upside of 15.77 % from firm’s close price.

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 -1.41% below currents $293.68 stock price. Align Tech had 22 analyst reports since November 21, 2017 according to SRatingsIntel. The stock of Align Technology, Inc. (NASDAQ:ALGN) has “Equal-Weight” rating given on Thursday, April 19 by Morgan Stanley. The rating was maintained by Stifel Nicolaus with “Buy” on Tuesday, November 21. On Friday, December 8 the stock rating was initiated by Deutsche Bank with “Hold”. The firm earned “Buy” rating on Sunday, May 6 by Piper Jaffray. Robert W. Baird maintained the stock with “Buy” rating in Tuesday, November 28 report. The firm has “Outperform” rating given on Wednesday, January 31 by Leerink Swann. The stock of Align Technology, Inc. (NASDAQ:ALGN) earned “Hold” rating by Stephens on Friday, January 19. As per Thursday, April 26, the company rating was maintained by Stifel Nicolaus. The stock of Align Technology, Inc. (NASDAQ:ALGN) has “Equal-Weight” rating given on Thursday, April 26 by Morgan Stanley. The stock has “Buy” rating by Piper Jaffray on Wednesday, January 31.

The stock increased 1.99% or $5.72 during the last trading session, reaching $293.68. About 564,682 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 $84.96 million for 69.26 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 $23.54 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 103.77 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, Benzinga.com published: “Align Tech Faces Slowing Growth, Potential Headwinds, Morgan Stanley Says In Downgrade” on April 20, 2018. More interesting news about Align Technology, Inc. (NASDAQ:ALGN) were released by: Investorplace.com and their article: “Morgan Stanley Is Right to Worry About Align Technology, Inc. (ALGN) Stock” published on April 24, 2018 as well as Globenewswire.com‘s news article titled: “Align Technology Provides Update Regarding SmileDirectClub (SDC) Dispute” with publication date: April 25, 2018.

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

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