Align Technology (NASDAQ:ALGN) Receives "Hold" Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Align Technology (NASDAQ:ALGN - Free Report) in a research note published on Thursday,Benzinga reports.

A number of other equities analysts have also recently issued reports on the stock. Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Mizuho began coverage on Align Technology in a report on Wednesday, December 4th. They set an "outperform" rating and a $295.00 price target on the stock. Leerink Partners upgraded Align Technology from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Jefferies Financial Group reduced their target price on Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. Finally, Morgan Stanley dropped their price target on Align Technology from $310.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $271.40.

Align Technology Stock Up 0.7 %

Shares of ALGN traded up $1.50 during trading hours on Thursday, hitting $212.05. The company had a trading volume of 617,283 shares, compared to its average volume of 786,908. The firm has a market cap of $15.83 billion, a P/E ratio of 37.80, a P/E/G ratio of 4.79 and a beta of 1.67. Align Technology has a 52-week low of $196.09 and a 52-week high of $335.40. The stock's 50 day moving average price is $221.25 and its 200 day moving average price is $225.52.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced 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 net margin of 10.54% and a return on equity of 13.84%. On average, research analysts expect that Align Technology will post 8.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Align Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC boosted its stake in Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 107 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Align Technology during the third quarter valued at approximately $32,000. Picton Mahoney Asset Management increased its position in shares of Align Technology by 69.9% during the fourth 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. CVA Family Office LLC raised its holdings in Align Technology by 85.2% in the 3rd quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider's stock worth $38,000 after acquiring an additional 69 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in Align Technology by 113.4% in 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 in the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

About Align Technology

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.