Credit Suisse analyst Erin Wright maintained a Buy rating on Align Tech (NASDAQ: ALGN) today and set a price target of $340. The company’s shares opened today at $318.08, close to its 52-week high of $322.67.
According to TipRanks.com, Wright is a 4-star analyst with an average return of 8.9% and a 65.1% success rate. Wright covers the Services sector, focusing on stocks such as AmerisourceBergen Corporation, Diplomat Pharmacy, and Syneos Health Inc.
Currently, the analyst consensus on Align Tech is Strong Buy and the average price target is $328.75, representing a 3.4% upside.
In a report issued on May 21, Barclays also maintained a Buy rating on the stock with a $325 price target.
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Based on Align Tech’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $95.87 million. In comparison, last year the company had a net profit of $69.42 million.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Raymond Larkin, a Director at ALGN sold 15,000 shares for a total of $3,966,750.
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. engages in the manufacture, design, and marketing of global medical devices. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of invisalign full, teen and assist products, and vivera retainers along with training and ancillary products for treating malocclusion.
