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Align Tech (ALGN) Received its Third Buy in a Row

After Stifel Nicolaus and UBS gave Align Tech (NASDAQ: ALGN) a Buy rating last month, the company received another Buy, this time from Jefferies. Analyst Brandon Couillard maintained a Buy rating on Align Tech today and set a price target of $365.00. The company’s shares closed last Monday at $252.07, close to its 52-week low of $225.86.

According to TipRanks.com, Couillard is a top 25 analyst with an average return of 23.3% and a 70.8% success rate. Couillard covers the Healthcare sector, focusing on stocks such as Nautilus Biotechnolgy, Bio-Rad Laboratories, and Mesa Laboratories.

Align Tech has an analyst consensus of Strong Buy, with a price target consensus of $380.00, which is a 43.2% upside from current levels. In a report issued on July 14, Stifel Nicolaus also maintained a Buy rating on the stock with a $375.00 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 revenue of $973 million and net profit of $134 million. In comparison, last year the company earned revenue of $895 million and had a net profit of $200 million.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALGN in relation to earlier this year.

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.

Founded in 1997, Align Technology, Inc. is a global medical devices company based in California. It manufactures 3D digital scanners and clear aligners used in orthodontics. The company operates through the Clear Aligner, and Scanner and Services segments.

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