Align Technology, Inc. (NASDAQ:ALGN) Receives Consensus Rating of "Hold" from Analysts

Shares of Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) have been assigned an average rating of "Hold" from the nine ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $306.88.

Several brokerages have issued reports on ALGN. OTR Global reissued a "mixed" rating on shares of Align Technology in a research report on Tuesday, June 4th. Piper Sandler restated an "overweight" rating and issued a $315.00 price target on shares of Align Technology in a research report on Friday. Morgan Stanley reduced their price objective on Align Technology from $328.00 to $310.00 and set an "overweight" rating for the company in a research note on Thursday, July 25th. Robert W. Baird lowered their target price on Align Technology from $370.00 to $325.00 and set an "outperform" rating on the stock in a research note on Monday, July 22nd. Finally, StockNews.com cut Align Technology from a "buy" rating to a "hold" rating in a research note on Sunday, September 1st.

Insider Buying and Selling

In related news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares in the company, valued at $6,647,366.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Align Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mather Group LLC. purchased a new stake in shares of Align Technology in the first quarter valued at about $26,000. LRI Investments LLC purchased a new stake in Align Technology in the 1st quarter valued at approximately $29,000. Cullen Frost Bankers Inc. grew its holdings in Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 94 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Align Technology during the 2nd quarter valued at $26,000. Finally, Innealta Capital LLC acquired a new position in shares of Align Technology in the second quarter worth $26,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Price Performance

Shares of ALGN traded up $5.83 during midday trading on Monday, reaching $249.56. 896,915 shares of the stock were exchanged, compared to its average volume of 775,113. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 5.13 and a beta of 1.64. Align Technology has a twelve month low of $176.34 and a twelve month high of $335.40. The business's 50-day moving average price is $232.09 and its 200 day moving average price is $265.71.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 earnings per share. As a group, equities research analysts expect that Align Technology will post 7.61 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.