Align Technology, Inc. (NASDAQ:ALGN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Align Technology, Inc. (NASDAQ:ALGN) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $269.91.

Several equities analysts have commented on ALGN shares. Mizuho started coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Align Technology in a research note on Friday, February 14th. They set an “overweight” rating and a $255.00 price target on the stock. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group reduced their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd.

Institutional Trading of Align Technology

Several hedge funds and other institutional investors have recently made changes to their positions in ALGN. True Wealth Design LLC lifted its position in Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Align Technology during the 3rd quarter worth approximately $32,000. Picton Mahoney Asset Management lifted its holdings in shares of Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 58 shares during the period. GKV Capital Management Co. Inc. acquired a new position in Align Technology during the fourth quarter worth $31,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Align Technology in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 0.2 %

Shares of Align Technology stock opened at $201.79 on Thursday. Align Technology has a 52-week low of $196.09 and a 52-week high of $335.40. The company has a market capitalization of $15.06 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.43 and a beta of 1.67. The company has a 50 day moving average of $216.70 and a 200 day moving average of $224.47.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, research analysts anticipate that Align Technology will post 7.98 earnings per share 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.