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

Shares of Align Technology, Inc. (NASDAQ:ALGN) have earned a consensus rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $276.38.

Several equities analysts have weighed in on the company. Stifel Nicolaus dropped their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Morgan Stanley cut their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Robert W. Baird dropped their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday.

Insiders Place Their Bets

In other Align Technology news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now directly owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Align Technology

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Align Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock worth $2,746,378,000 after acquiring an additional 25,362 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Align Technology by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock valued at $277,230,000 after acquiring an additional 15,540 shares in the last quarter. Ninety One UK Ltd lifted its stake in Align Technology by 1.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after purchasing an additional 10,919 shares in the last quarter. Bares Capital Management Inc. boosted its holdings in Align Technology by 44.4% in the 1st quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock valued at $268,871,000 after purchasing an additional 252,220 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its holdings in shares of Align Technology by 0.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock worth $170,822,000 after purchasing an additional 3,600 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Performance

NASDAQ ALGN opened at $210.78 on Tuesday. Align Technology has a 52 week low of $186.01 and a 52 week high of $335.40. The stock has a market capitalization of $15.75 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 4.84 and a beta of 1.65. The stock’s 50 day moving average price is $230.63 and its two-hundred day moving average price is $244.77.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. During the same period in the prior year, the firm earned $1.62 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Align Technology will post 7.45 EPS 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.