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

Shares of Align Technology, Inc. (NASDAQ:ALGN) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $271.40.

ALGN has been the subject of several research reports. Morgan Stanley reduced their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Mizuho began coverage on Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective for the company. Evercore ISI boosted their price objective on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $235.00 to $280.00 in a research note on Monday, January 6th.

Align Technology Stock Down 2.5 %

Shares of ALGN stock opened at $205.34 on Thursday. Align Technology has a 12 month low of $196.09 and a 12 month high of $335.40. The firm has a market cap of $15.33 billion, a PE ratio of 36.60, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67. The stock has a 50 day moving average of $220.34 and a 200-day moving average of $225.35.

Align Technology (NASDAQ:ALGN) last released 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, equities analysts predict that Align Technology will post 8.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Align Technology

Several institutional investors have recently added to or reduced their stakes in the company. PAX Financial Group LLC grew its stake in Align Technology by 3.2% during the fourth quarter. PAX Financial Group LLC now owns 3,458 shares of the medical equipment provider’s stock worth $721,000 after buying an additional 108 shares during the last quarter. Provident Investment Management Inc. boosted its holdings in shares of Align Technology by 2.4% in the 4th quarter. Provident Investment Management Inc. now owns 152,215 shares of the medical equipment provider’s stock worth $31,738,000 after acquiring an additional 3,527 shares in the last quarter. ExodusPoint Capital Management LP increased its holdings in Align Technology by 56.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 124,818 shares of the medical equipment provider’s stock valued at $26,026,000 after purchasing an additional 44,903 shares in the last quarter. Motley Fool Asset Management LLC raised its position in Align Technology by 6.9% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,099 shares of the medical equipment provider’s stock valued at $229,000 after purchasing an additional 71 shares during the last quarter. Finally, Huntington National Bank boosted its stake in Align Technology by 103.8% in the fourth quarter. Huntington National Bank now owns 326 shares of the medical equipment provider’s stock worth $68,000 after purchasing an additional 166 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

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.