Align Tech Received its Third Buy in a Row

By Ryan Adsit

After Jefferies and Morgan Stanley assigned a Buy rating to Align Tech in the last month, the company received another Buy, this time from Stifel Nicolaus. Analyst Jonathan Block reiterated a Buy rating on Align Tech (NASDAQ: ALGN) today and set a price target of $200. The company’s shares closed yesterday at $149.69, close to its 52-week high of $153.93.

According to TipRanks.com, Block is a top 100 analyst with an average return of 21.4% and a 82.4% success rate. Block covers the Healthcare sector, focusing on stocks such as DENTSPLY SIRONA Inc, Idexx Laboratories, and Zeltiq Aesthetics.

Currently, the analyst consensus on Align Tech is Strong Buy and the average price target is $154, representing a 2.9% upside.

In a report issued on June 19, Morgan Stanley also reiterated a Buy rating on the stock with a $175 price target.

Based on Align Tech’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $310 million and quarterly net profit of $69.42 million. In comparison, last year the company earned revenue of $239 million and had a net profit of $40.55 million.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2017, Joseph Lacob, a Director at ALGN sold 50,000 shares for a total of $5,133,100.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Align Technology, Inc. designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and CAD & CAM digital services used in dentistry, orthodontics, and dental records storage. It operates through the following segments: Clear Aligner and Scanners & Services. The Clear Aligner segment consists of Invisalign System, which includes invisalign full, express & lite, teen, assist, vivera retainers, along with training and ancillary products for treating malocclusion. The Scanners & Services segment consists of intra-oral scanning systems and additional services available with the intra-oral scanners that provide digital alternatives to the traditional cast models. This segment includes iTero scanner and OrthoCAD services. The company was founded by Zia Chishti and Kelsey Wirth in March 1997 and is headquartered in San Jose, CA.,0032VQ-E