Align Technology, Inc. (NASDAQ:ALGN) Given Average Rating of “Moderate Buy” by Brokerages

Align Technology, Inc. (NASDAQ:ALGN) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $201.3077.

ALGN has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Align Technology in a research note on Wednesday, April 15th. They issued a “buy” rating and a $240.00 price objective on the stock. Mizuho raised their price objective on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Jefferies Financial Group raised their price objective on shares of Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Evercore reaffirmed an “outperform” rating on shares of Align Technology in a research note on Wednesday, April 8th. Finally, Barclays raised shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective on the stock in a research note on Tuesday, March 17th.

Align Technology Price Performance

Shares of Align Technology stock opened at $191.66 on Tuesday. The firm has a market cap of $13.73 billion, a P/E ratio of 33.86, a P/E/G ratio of 2.07 and a beta of 1.81. The firm has a 50 day simple moving average of $179.64 and a 200 day simple moving average of $161.36. Align Technology has a fifty-two week low of $122.00 and a fifty-two week high of $208.30.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. Align Technology’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 earnings per share. On average, sell-side analysts expect that Align Technology will post 9.12 EPS for the current year.

Insider Transactions at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Align Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in ALGN. Sentry Investment Management LLC boosted its position in shares of Align Technology by 73.1% during the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Align Technology by 222.4% during the fourth quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 109 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in shares of Align Technology during the third quarter worth $26,000. Blue Trust Inc. boosted its position in shares of Align Technology by 77.5% during the first quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its position in shares of Align Technology by 77.7% during the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 80 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.