Align Technology, Inc. (NASDAQ:ALGN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Align Technology, Inc. (NASDAQ:ALGN) have received an average rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $351.00.

Several analysts have recently issued reports on the stock. Evercore ISI lowered their price target on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Robert W. Baird increased their target price on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Morgan Stanley lifted their price target on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. OTR Global reissued a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th.

Align Technology Price Performance

Shares of ALGN opened at $256.01 on Friday. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20. The stock’s fifty day moving average price is $280.95 and its two-hundred day moving average price is $281.56. The firm has a market cap of $19.27 billion, a PE ratio of 42.18, a PEG ratio of 4.93 and a beta of 1.62.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.08. The company had revenue of $997.43 million during the quarter, compared to analyst estimates of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. Sell-side analysts anticipate that Align Technology will post 7.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Align Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Align Technology by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock valued at $2,746,378,000 after buying an additional 25,362 shares in the last quarter. Brown Advisory Inc. raised its position in Align Technology by 41.4% during the fourth quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock valued at $413,488,000 after purchasing an additional 441,754 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Align Technology by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 1,132,742 shares of the medical equipment provider’s stock worth $371,449,000 after purchasing an additional 11,800 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Align Technology by 9.8% in the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after purchasing an additional 90,581 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB bought a new position in shares of Align Technology during the 3rd quarter valued at about $305,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

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.