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

Align Technology, Inc. (NASDAQ:ALGN) has earned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $276.38.

A number of equities research analysts have commented on the stock. Evercore ISI cut their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Morgan Stanley decreased their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus cut their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Monday. Finally, Piper Sandler dropped their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th.

Insider Transactions at Align Technology

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the purchase, the director now directly owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Align Technology

Several institutional investors have recently bought and sold shares of the business. Mather Group LLC. lifted its position 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 acquiring an additional 42 shares during the last quarter. Quarry LP raised its stake in shares of Align Technology by 53.0% during the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 44 shares during the last quarter. Crewe Advisors LLC increased its holdings in shares of Align Technology by 36.8% during the 2nd 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 in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Align Technology by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock worth $2,143,000 after acquiring an additional 54 shares during the period. Finally, Lake Street Advisors Group LLC boosted its position in Align Technology by 5.6% during the third quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider’s stock worth $265,000 after purchasing an additional 55 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Trading Up 1.1 %

Shares of ALGN stock opened at $210.78 on Tuesday. The stock has a market cap of $15.75 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 4.84 and a beta of 1.65. Align Technology has a 12 month low of $186.01 and a 12 month high of $335.40. The company’s fifty day moving average price is $230.63 and its 200-day moving average price is $244.77.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. During the same period in the previous year, the company earned $1.62 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that Align Technology will post 7.45 earnings per share for the current fiscal 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.