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

Shares of Align Technology, Inc. (NASDAQ:ALGN) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $322.78.

ALGN has been the subject of a number of analyst reports. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Morgan Stanley reduced their price target on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Stifel Nicolaus reduced their price target on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. StockNews.com lowered shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird reduced their price target on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd.

Hedge Funds Weigh In On Align Technology

A number of hedge funds have recently added to or reduced their stakes in ALGN. Moody National Bank Trust Division grew its holdings in Align Technology by 1.8% during the first quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock valued at $691,000 after purchasing an additional 38 shares during the last quarter. EFG Asset Management Americas Corp. grew its holdings in Align Technology by 3.6% during the fourth quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock valued at $320,000 after purchasing an additional 41 shares during the last quarter. Mather Group LLC. grew its holdings in Align Technology by 52.5% during the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 42 shares during the last quarter. Richard W. Paul & Associates LLC grew its holdings in Align Technology by 2.8% during the fourth quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock valued at $457,000 after purchasing an additional 45 shares during the last quarter. Finally, Crewe Advisors LLC grew its holdings in Align Technology by 36.8% during the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Down 6.5 %

ALGN stock opened at $213.49 on Friday. Align Technology has a one year low of $176.34 and a one year high of $375.68. The firm has a market capitalization of $16.07 billion, a PE ratio of 35.17, a P/E/G ratio of 5.18 and a beta of 1.66. The firm has a 50-day moving average of $245.59 and a two-hundred day moving average of $278.95.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Align Technology will post 7.64 earnings per share for the current year.

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.