Brokerages Set Align Technology, Inc. (NASDAQ:ALGN) Target Price at $262.64

Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the thirteen analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $262.64.

ALGN has been the topic of several recent research reports. Morgan Stanley dropped their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company assumed coverage on Align Technology in a report on Friday, February 14th. They issued an "overweight" rating and a $255.00 target price on the stock. Leerink Partners raised Align Technology from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Leerink Partnrs raised Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, Evercore ISI boosted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th.

Align Technology Price Performance

Shares of ALGN traded up $20.71 during midday trading on Friday, reaching $165.03. 2,156,932 shares of the stock were exchanged, compared to its average volume of 859,503. Align Technology has a twelve month low of $141.74 and a twelve month high of $331.64. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 2.24 and a beta of 1.73. The business's 50-day moving average price is $179.39 and its 200 day moving average price is $208.51.

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 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 research analysts expect that Align Technology will post 7.98 earnings per share for the current fiscal year.

Institutional Trading of Align Technology

Hedge funds have recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its stake in shares of Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 58 shares during the period. GKV Capital Management Co. Inc. purchased a new position in Align Technology during the fourth quarter worth about $31,000. Neo Ivy Capital Management acquired a new stake in Align Technology in the 3rd quarter worth about $32,000. Aster Capital Management DIFC Ltd purchased a new stake in Align Technology in the 4th quarter valued at about $35,000. Finally, Private Trust Co. NA increased its stake in shares of Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after acquiring an additional 93 shares during the last quarter. Institutional investors and hedge funds 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.