Align Technology (NASDAQ:ALGN) Reaches New 1-Year Low – Should You Sell?

Align Technology, Inc. (NASDAQ:ALGN)’s share price hit a new 52-week low on Thursday . The stock traded as low as $150.80 and last traded at $153.24, with a volume of 389244 shares. The stock had previously closed at $163.98.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ALGN shares. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and set a $235.00 target price (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Mizuho decreased their price target on Align Technology from $295.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Morgan Stanley reduced their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Wells Fargo & Company initiated coverage on shares of Align Technology in a report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and an average price target of $262.64.

Align Technology Trading Down 5.0 %

The firm has a market cap of $11.47 billion, a P/E ratio of 27.77, a PEG ratio of 2.24 and a beta of 1.69. The company’s 50-day moving average is $189.66 and its two-hundred day moving average is $213.03.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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%. Research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALGN. Picton Mahoney Asset Management increased its stake in 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 last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of Align Technology during the fourth quarter valued at approximately $31,000. Neo Ivy Capital Management bought a new stake in Align Technology during the third quarter worth $32,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Align Technology in the 4th quarter worth about $35,000. Finally, Private Trust Co. NA boosted its stake in Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 93 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

About Align Technology

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.