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

Align Technology, Inc. (NASDAQ:ALGN)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $162.56 and last traded at $164.52, with a volume of 520418 shares traded. The stock had previously closed at $173.75.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Jefferies Financial Group lowered their target price on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and raised their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Finally, Evercore ISI lifted their price target on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Price Performance

The company has a market cap of $12.03 billion, a PE ratio of 29.12, a PEG ratio of 2.24 and a beta of 1.69. The stock has a 50 day simple moving average of $208.02 and a two-hundred day simple moving average of $221.19.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) 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 analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Institutional Trading of Align Technology

A number of hedge funds have recently added to or reduced their stakes in ALGN. True Wealth Design LLC lifted its holdings in shares of Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares during the period. Picton Mahoney Asset Management raised its position in Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new stake in shares of Align Technology in the 4th quarter worth $31,000. Neo Ivy Capital Management purchased a new stake in shares of Align Technology in the third quarter valued at about $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Align Technology during the fourth quarter worth about $35,000. 88.43% of the stock is owned by institutional investors and hedge funds.

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.