Analysts Set Align Technology, Inc. (NASDAQ:ALGN) Target Price at $276.38

Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) has received an average rating of "Hold" from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $276.38.

ALGN has been the subject of several recent research reports. Evercore ISI cut their price target on Align Technology from $270.00 to $250.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Morgan Stanley dropped their price objective on Align Technology from $310.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Robert W. Baird lowered their price target on shares of Align Technology from $325.00 to $276.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. StockNews.com upgraded Align Technology from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. Finally, Stifel Nicolaus reduced their target price on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, October 24th.

Insider Activity

In other Align Technology news, Director C Raymond Larkin, Jr. bought 6,500 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the acquisition, the director now owns 28,247 shares in the company, valued at approximately $6,647,366.51. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.62% of the company's stock.

Hedge Funds Weigh In On Align Technology

Hedge funds have recently bought and sold shares of the company. LRI Investments LLC purchased a new position in Align Technology in the first quarter worth about $29,000. Cullen Frost Bankers Inc. raised its position in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 94 shares during the period. Rothschild Investment LLC bought a new stake in shares of Align Technology during the 2nd quarter valued at $26,000. Innealta Capital LLC purchased a new stake in shares of Align Technology in the 2nd quarter worth $26,000. Finally, Versant Capital Management Inc lifted its position in Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider's stock valued at $27,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 88.43% of the company's stock.

Align Technology Price Performance

NASDAQ:ALGN traded up $1.46 on Tuesday, hitting $212.24. 549,345 shares of the company's stock were exchanged, compared to its average volume of 782,482. The company has a market cap of $15.85 billion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 4.93 and a beta of 1.65. Align Technology has a 52 week low of $186.01 and a 52 week high of $335.40. The firm has a 50-day moving average price of $230.63 and a 200-day moving average price of $244.77.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm's revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 EPS. On average, research analysts expect that Align Technology will post 7.45 earnings per share for the current fiscal year.

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.