Align Technology, Inc. (NASDAQ:ALGN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) have been given an average rating of "Moderate Buy" by the thirteen brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $269.91.

ALGN has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Bank of America lifted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a report on Friday, December 13th. Leerink Partners raised shares of Align Technology from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. Finally, Piper Sandler lowered their price objective on shares of Align Technology from $275.00 to $270.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th.

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Align Technology Stock Performance

Shares of ALGN stock traded down $4.06 during trading hours on Monday, reaching $160.51. The company had a trading volume of 1,535,444 shares, compared to its average volume of 783,669. The company has a market capitalization of $11.81 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology has a twelve month low of $158.36 and a twelve month high of $335.40. The stock's fifty day simple moving average is $205.41 and its 200 day simple moving average is $219.86.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly 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 return on equity of 13.84% and a net margin of 10.54%. As a group, equities analysts expect that Align Technology will post 7.98 earnings per share for the current year.

Institutional Investors Weigh In On Align Technology

Several hedge funds have recently modified their holdings of the stock. True Wealth Design LLC lifted its stake in Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 107 shares in the last quarter. Picton Mahoney Asset Management lifted its position 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 acquiring an additional 58 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new position in Align Technology in the 4th quarter worth approximately $31,000. Neo Ivy Capital Management purchased a new position in Align Technology during the 3rd quarter worth approximately $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Align Technology during the 4th quarter valued at $35,000. 88.43% of the stock is owned by hedge funds and other 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.