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

Shares of Align Technology, Inc. (NASDAQ:ALGN) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $269.91.

ALGN has been the topic of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. 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 objective on the stock. Jefferies Financial Group lowered their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Mizuho initiated coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective on the stock. Finally, 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 report on Thursday, February 6th.

Align Technology Trading Up 1.0 %

Shares of ALGN stock opened at $173.75 on Monday. Align Technology has a 1 year low of $167.32 and a 1 year high of $335.40. The firm’s fifty day moving average price is $208.02 and its two-hundred day moving average price is $221.19. The firm has a market capitalization of $12.79 billion, a P/E ratio of 30.97, a PEG ratio of 2.24 and a beta of 1.69.

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

Institutional Trading of Align Technology

A number of institutional investors have recently bought and sold shares of ALGN. Impax Asset Management Group plc boosted its holdings in Align Technology by 26.8% in the 3rd quarter. Impax Asset Management Group plc now owns 114,057 shares of the medical equipment provider’s stock valued at $29,007,000 after purchasing an additional 24,115 shares during the period. Principal Financial Group Inc. boosted its holdings in Align Technology by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 82,020 shares of the medical equipment provider’s stock valued at $20,859,000 after purchasing an additional 2,168 shares during the period. Portside Wealth Group LLC bought a new stake in Align Technology in the 3rd quarter valued at about $238,000. Covestor Ltd boosted its holdings in Align Technology by 26.6% in the 3rd quarter. Covestor Ltd now owns 362 shares of the medical equipment provider’s stock valued at $92,000 after purchasing an additional 76 shares during the period. Finally, Baker Avenue Asset Management LP bought a new stake in Align Technology in the 3rd quarter valued at about $4,250,000. Institutional investors own 88.43% of the company’s stock.

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.