As reported by MarketBeat.com, Align Technology, Inc. (NASDAQ:ALGN – Get Free Report) has received a Moderate Buy consensus rating from 10 analysts covering the company. One investment analyst has recommended selling the stock, three have given it a hold recommendation, and six have rated it a buy recommendation. The average 12-month target price among analysts who have updated their coverage of the company’s stock in the past year is $322.78.
A number of stock analysts have issued reports on the company. Morgan Stanley lowered their price target on Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday. UBS Group raised their price target on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Piper Sandler lowered their price target on Align Technology from $330.00 to $315.00 and set an “overweight” rating for the company in a research note on Thursday. Stifel Nicolaus lowered their price target on Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Evercore ISI lowered their target price on Align Technology from $370.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, June 10th.
View our latest analysis for Align Technology
Align Technology Stock Performance
NASDAQ:ALGN shares opened trading at $220.45 on Friday. Align Technology’s 52-week low is $176.34 and its 52-week high is $413.20. The company has a market cap of $16.6 billion, a price-to-earnings ratio (PE) of 36.32, a price-to-earnings growth ratio (PER) of 4.20 and a beta of 1.66. The company’s 50-day moving average is $249.03 and its 200-day moving average is $280.59.
Align Technology (NASDAQ:ALGN – Get free report ) announced its latest earnings results on Wednesday, July 24th. The medical equipment provider reported quarterly earnings per share (EPS) of $2.41, beating analysts’ consensus estimates of $2.32 by $0.09. Align Technology’s ROE was 14.07%, with net margins of 11.34%. Revenues for the quarter were $1.03 billion, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company posted earnings per share of $1.73. Quarterly revenues grew 2.6% year over year. On average, stock analysts expect Align Technology to post EPS of $7.84 for the current fiscal year.
Institutional Investors Invest in Align Technology
Several large investors have recently increased or decreased their stakes in the company. The Vanguard Group increased its stake in Align Technology by 0.3% in the first quarter. The Vanguard Group now owns 8,375,147 shares of the medical equipment provider’s stock, valued at $2,746,378,000, after purchasing an additional 25,362 shares during the period. Brown Advisory increased its stake in Align Technology by 41.4% in the fourth quarter. Brown Advisory now owns 1,509,080 shares of the medical equipment provider’s stock, valued at $413,488,000, after purchasing an additional 441,754 shares during the period. Bank of New York Mellon increased its stake in Align Technology by 1.4% in the second quarter. Bank of New York Mellon Co. now owns 1,148,282 shares of the medical equipment provider’s stock valued at $277.23 million after purchasing an additional 15,540 shares during the period. Ninety One UK LLC increased its holdings in Align Technology by 1.0% in the second quarter. Ninety One UK LLC now owns 1,147,124 shares of the medical equipment provider’s stock valued at $276.95 million after acquiring an additional 10,919 shares in the last quarter. Finally, Bears Capital Management LLC increased its holdings in Align Technology by 44.4% in the first quarter. Bears Capital Management LLC now owns 819,930 shares of the medical equipment provider’s stock valued at $268.871 million. This comes after an additional 252,220 shares were acquired in the last quarter. Institutional investors and hedge funds now own 88.43% of the company’s shares.
Align Technology Company Profile
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Align Technology, Inc designs, manufactures and distributes Invisalign clear aligners, iTero intraoral scanners and services to orthodontists and general practice dentists in the United States, Switzerland and worldwide. The company’s clear aligner division offers comprehensive products, including the Invisalign Comprehensive Package to address the orthodontic needs of younger patients, including mandibular advancement, compliance indicators and tooth eruption correction, as well as the Invisalign First Phase I and Invisalign First Comprehensive Phase 2 packages for younger patients, typically between the ages of 6 and 10, who have a mix of primary and permanent teeth.
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