Align Technology (NASDAQ:ALGN) Reaches New 12-Month Low – Should You Sell?

Shares of Align Technology, Inc. (NASDAQ:ALGN) hit a new 52-week low on Friday . The stock traded as low as $196.02 and last traded at $197.13, with a volume of 61358 shares changing hands. The stock had previously closed at $198.06.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALGN. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Mizuho assumed coverage on shares of Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective for the company. Evercore ISI upped their target price on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company began coverage on Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price for the company. Finally, Stifel Nicolaus dropped their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Trading Down 4.2 %

The stock’s 50 day moving average is $215.95 and its 200-day moving average is $224.29. The company has a market cap of $14.17 billion, a P/E ratio of 33.87, a PEG ratio of 2.38 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, sell-side analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. True Wealth Design LLC raised 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 buying an additional 107 shares during the last quarter. Picton Mahoney Asset Management grew its position in Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 58 shares during the period. GKV Capital Management Co. Inc. purchased a new stake in Align Technology during the 4th quarter valued at $31,000. Neo Ivy Capital Management bought a new position in shares of Align Technology during the 3rd quarter valued at $32,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Align Technology in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

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.