Align Technology (ALGN) is Reiterated by Stifel to Buy, Raises Price Target to $ 110

Align Technology (ALGN) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 110 from a previous price target of $95 . Stifel advised their investors in a research report released on Nov 28, 2016.

Many Wall Street Analysts have commented on Align Technology. Robert W. Baird Downgraded Align Technology on Oct 3, 2016 to ” Neutral”, Price Target of the shares are set at $96.

On the company’s financial health, Align Technology reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Nov 7, 2016. Analyst had a consensus of $0.51. The company had revenue of $278.58 million for the quarter, compared to analysts expectations of $270.64 million. The company’s revenue was up 34.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Align Technology opened for trading at $96.44 and hit $96.88 on the upside on Friday, eventually ending the session at $96.19, with a gain of 0.67% or 0.64 points. The heightened volatility saw the trading volume jump to 5,10,783 shares. Company has a market cap of $7,665 M.

In a different news, on Nov 21, 2016, David L White (Chief Financial Officer) sold 11,152 shares at $95.53 per share price. According to the SEC, on Nov 17, 2016, Joseph Lacob (director) sold 37,521 shares at $91.88 per share price. On Nov 14, 2016, Greg J Santora (director) sold 10,700 shares at $91.51 per share price, according to the Form-4 filing with the securities and exchange commission.

Align Technology Inc. (Align) is a medical device company. The Company designs manufactures and markets a system of clear aligner therapy intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services for dentistry orthodontics and dental records storage. The Company operates through two segments: Clear Aligner known as the Invisalign system and Scanners and Services known as the iTero intraoral scanner and OrthoCAD services. The Company’s Clear Aligner segment provides malocclusion and orthodontic treatment. The Company’s Scanners and Services Segment offers iTero intraoral scanner which utilizes laser and optical scanning to capture the contours of the patient’s dentition gingival structures and the bite. It distributes products directly to customers including orthodontists and general practitioner dentists (GPs) as well as to restorative dentists including prosthodontists periodontists and oral surgeons.

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