Align Technology, Inc. (NASDAQ:ALGN) Given Average Recommendation of “Hold” by Brokerages

Align Technology, Inc. (NASDAQ:ALGN) has earned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $344.45.

Several equities analysts have weighed in on ALGN shares. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. SVB Leerink started coverage on shares of Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target on the stock. UBS Group lifted their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Stifel Nicolaus lifted their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, The Goldman Sachs Group lifted their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd.

Insider Activity at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 over the last 90 days. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Align Technology

Several hedge funds and other institutional investors have recently made changes to their positions in ALGN. National Bank of Canada FI raised its stake in shares of Align Technology by 7.4% in the third quarter. National Bank of Canada FI now owns 41,799 shares of the medical equipment provider’s stock valued at $12,529,000 after acquiring an additional 2,888 shares during the period. Kentucky Retirement Systems purchased a new stake in shares of Align Technology in the third quarter valued at $1,952,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Align Technology in the third quarter valued at $871,000. Moody National Bank Trust Division raised its stake in shares of Align Technology by 18.8% in the third quarter. Moody National Bank Trust Division now owns 3,167 shares of the medical equipment provider’s stock valued at $967,000 after acquiring an additional 501 shares during the period. Finally, DnB Asset Management AS raised its stake in shares of Align Technology by 24.0% in the third quarter. DnB Asset Management AS now owns 17,342 shares of the medical equipment provider’s stock valued at $5,295,000 after acquiring an additional 3,354 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 3.7 %

ALGN opened at $311.88 on Friday. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 5.35 and a beta of 1.65. The company’s 50 day moving average is $313.14 and its 200 day moving average is $270.22. Align Technology has a 12-month low of $176.34 and a 12-month high of $413.20.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The business had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. As a group, analysts predict that Align Technology will post 7.69 EPS 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.