Align Technology (NASDAQ:ALGN) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Align Technology (NASDAQ:ALGN) in a research report sent to investors on Friday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $255.00 price target on the medical equipment provider’s stock.

Other research analysts have also recently issued research reports about the company. Bank of America boosted their price objective on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Mizuho initiated coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target on the stock. Jefferies Financial Group dropped their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, Evercore ISI upped their price target on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

Align Technology Stock Up 0.9 %

Shares of NASDAQ:ALGN opened at $206.77 on Friday. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 4.79 and a beta of 1.67. Align Technology has a 12-month low of $196.09 and a 12-month high of $335.40. The business’s 50 day moving average is $219.29 and its 200 day moving average is $225.07.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, equities research analysts expect that Align Technology will post 8.09 earnings per share for the current year.

Institutional Trading of Align Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Baker Avenue Asset Management LP purchased a new stake in shares of Align Technology in the 3rd quarter valued at about $4,250,000. Swedbank AB raised its holdings in shares of Align Technology by 30.1% in the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock valued at $98,960,000 after acquiring an additional 90,000 shares in the last quarter. KBC Group NV raised its holdings in shares of Align Technology by 11.8% in the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock valued at $13,595,000 after acquiring an additional 5,663 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Align Technology by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after acquiring an additional 9,139 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Align Technology by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after acquiring an additional 2,717 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Company Profile

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.