Align Technology, Inc. (NASDAQ:ALGN) Given Consensus Rating of “Moderate Buy” by Analysts

Align Technology, Inc. (NASDAQ:ALGN) has earned an average rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $267.45.

ALGN has been the subject of several recent analyst reports. Bank of America raised their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Robert W. Baird dropped their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group dropped their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Mizuho assumed coverage on shares of Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target on the stock.

Institutional Trading of Align Technology

A number of large investors have recently bought and sold shares of ALGN. Wellington Management Group LLP increased its stake in Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Align Technology in the third quarter valued at $137,287,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Align Technology by 4,391.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock valued at $117,879,000 after buying an additional 477,380 shares in the last quarter. FMR LLC grew its stake in shares of Align Technology by 43.0% in the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after buying an additional 367,508 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Align Technology by 96.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock valued at $171,493,000 after purchasing an additional 330,807 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Down 0.7 %

ALGN stock opened at $233.30 on Friday. The stock has a market cap of $17.42 billion, a PE ratio of 39.81, a price-to-earnings-growth ratio of 5.14 and a beta of 1.67. The firm’s 50-day simple moving average is $223.06 and its 200 day simple moving average is $227.81. Align Technology has a fifty-two week low of $196.09 and a fifty-two week high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same quarter last year, the firm posted $1.62 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts forecast that Align Technology will post 7.47 EPS for the current fiscal year.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.