Align Technology, Inc. (NASDAQ:ALGN) Receives $276.38 Average Price Target from Analysts

Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) has been assigned an average rating of "Hold" from the ten ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $276.38.

A number of research firms have issued reports on ALGN. Piper Sandler cut their target price on Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Morgan Stanley dropped their price objective on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. StockNews.com raised shares of Align Technology from a "hold" rating to a "buy" rating in a research note on Thursday, September 19th. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Monday, November 4th. Finally, Stifel Nicolaus cut their price target on Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, October 24th.

Institutional Investors Weigh In On Align Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Align Technology during the 3rd quarter valued at $78,000. Virtue Capital Management LLC bought a new position in Align Technology during the third quarter valued at about $203,000. Neo Ivy Capital Management acquired a new position in Align Technology during the third quarter worth about $32,000. Coldstream Capital Management Inc. raised its position in Align Technology by 9.3% in the third quarter. Coldstream Capital Management Inc. now owns 2,251 shares of the medical equipment provider's stock worth $566,000 after acquiring an additional 191 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Align Technology by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider's stock valued at $443,810,000 after acquiring an additional 21,605 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

Shares of NASDAQ ALGN traded up $3.11 during midday trading on Friday, hitting $232.77. The company's stock had a trading volume of 312,009 shares, compared to its average volume of 786,209. The firm's fifty day moving average price is $226.43 and its 200-day moving average price is $236.60. Align Technology has a 1-year low of $196.09 and a 1-year high of $335.40. The firm has a market cap of $17.38 billion, a P/E ratio of 39.72, a P/E/G ratio of 5.95 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business had revenue of $977.87 million for the quarter, compared to analysts' expectations of $990.05 million. During the same period in the prior year, the firm earned $1.62 EPS. The business's quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts predict that Align Technology will post 7.45 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.