Align Technology (NASDAQ:ALGN) Now Covered by Wells Fargo & Company

Equities researchers at Wells Fargo & Company assumed coverage on shares of Align Technology (NASDAQ:ALGN - Get Free Report) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $255.00 price target on the medical equipment provider's stock. Wells Fargo & Company's price target would suggest a potential upside of 26.09% from the company's previous close.

Several other brokerages have also recently weighed in on ALGN. Evercore ISI boosted their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Jefferies Financial Group dropped their price target on Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Morgan Stanley decreased their price objective 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. Finally, Bank of America lifted their target price on Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $269.91.

Align Technology Price Performance

Shares of Align Technology stock traded down $4.53 during trading on Friday, reaching $202.24. 880,069 shares of the stock traded hands, compared to its average volume of 799,599. Align Technology has a 52-week low of $196.09 and a 52-week high of $335.40. The business has a fifty day simple moving average of $218.16 and a two-hundred day simple moving average of $224.71. The company has a market capitalization of $15.10 billion, a price-to-earnings ratio of 36.05, a P/E/G 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 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 predict that Align Technology will post 8.09 earnings per share for the current fiscal year.

Institutional Trading of Align Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Vega Investment Solutions purchased a new position in Align Technology in the 4th quarter worth about $512,000. GTS Securities LLC increased its position in shares of Align Technology by 114.0% during the fourth quarter. GTS Securities LLC now owns 1,138 shares of the medical equipment provider's stock worth $237,000 after acquiring an additional 9,275 shares during the period. Vise Technologies Inc. bought a new stake in shares of Align Technology during the fourth quarter valued at approximately $202,000. Orion Capital Management LLC purchased a new stake in shares of Align Technology in the fourth quarter valued at approximately $42,000. Finally, PharVision Advisers LLC purchased a new stake in shares of Align Technology in the fourth quarter valued at approximately $227,000. 88.43% of the stock is currently owned by institutional investors.

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.