Align Technology, Inc. (NASDAQ:ALGN) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) have been given an average rating of "Moderate Buy" by the thirteen ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $269.91.

Several equities research analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a research report on Friday, December 13th. Morgan Stanley reduced their price objective 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. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. Evercore ISI increased their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird lowered their price target on shares of Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th.

Institutional Investors Weigh In On Align Technology

Hedge funds have recently modified their holdings of the business. True Wealth Design LLC raised its position in shares of Align Technology by 10,700.0% in 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 during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Align Technology in the third quarter valued at about $32,000. Picton Mahoney Asset Management raised its position in shares of Align Technology by 69.9% in the fourth 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. acquired a new stake in shares of Align Technology in the fourth quarter valued at about $31,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Align Technology in the fourth quarter valued at about $35,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 0.9 %

Shares of ALGN stock traded up $1.88 during trading hours on Thursday, reaching $206.77. 880,550 shares of the stock were exchanged, compared to its average volume of 760,952. Align Technology has a 12-month low of $196.09 and a 12-month high of $335.40. The company's 50-day moving average price is $218.77 and its 200-day moving average price is $224.91. The firm has a market capitalization of $15.44 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts' consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, sell-side analysts expect that Align Technology will post 8.09 EPS for the current 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.