Align Technology, Inc. (NASDAQ:ALGN) Receives $271.20 Average PT from Brokerages

Align Technology, Inc. (NASDAQ:ALGN) has received a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $271.20.

Several brokerages have recently commented on ALGN. Mizuho assumed coverage on shares of Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Bank of America raised their target price on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Finally, Evercore ISI cut their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th.

Institutional Investors Weigh In On Align Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. grew its stake in shares of Align Technology by 854.5% in the 2nd 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 in the last quarter. Rothschild Investment LLC purchased a new position in Align Technology during the second quarter worth about $26,000. True Wealth Design LLC grew its position in Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. Innealta Capital LLC purchased a new stake in Align Technology in the 2nd quarter valued at about $26,000. Finally, Neo Ivy Capital Management bought a new position in shares of Align Technology during the 3rd quarter worth approximately $32,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Up 0.9 %

ALGN stock opened at $208.51 on Wednesday. The company’s fifty day simple moving average is $222.09 and its 200 day simple moving average is $230.54. Align Technology has a 12-month low of $196.09 and a 12-month high of $335.40. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 6.20 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $977.87 million for the quarter, compared to the consensus estimate 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 business earned $1.62 EPS. Research analysts expect that Align Technology will post 7.45 earnings per share for the current 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.