Piper Jaffray Companies reiterated their buy rating on shares of Align Technology, Inc. (NASDAQ:ALGN) in a report released on Monday morning. They currently have a $200.00 price objective on the medical equipment provider’s stock.

A number of other analysts also recently commented on ALGN. Jefferies Group LLC restated a buy rating and set a $150.00 price objective on shares of Align Technology in a report on Thursday, June 1st. Morgan Stanley restated an overweight rating and set a $175.00 price objective on shares of Align Technology in a report on Monday, June 19th. They noted that the move was a valuation call. Northcoast Research restated a buy rating and set a $186.00 price objective (up from $164.00) on shares of Align Technology in a report on Wednesday, June 21st. Stifel Nicolaus restated a buy rating and set a $200.00 price objective (up from $145.00) on shares of Align Technology in a report on Friday, June 23rd. Finally, Leerink Swann upped their price objective on Align Technology from $149.00 to $194.00 and gave the stock an outperform rating in a report on Monday, June 26th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $176.80.

Shares of Align Technology (ALGN) opened at 184.85 on Monday. The stock has a 50 day moving average price of $174.44 and a 200-day moving average price of $142.87. Align Technology has a 52 week low of $83.27 and a 52 week high of $186.10. The firm has a market capitalization of $14.82 billion, a PE ratio of 63.30 and a beta of 1.55.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $356.50 million during the quarter, compared to the consensus estimate of $343.43 million. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. Equities analysts anticipate that Align Technology will post $3.40 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Align Technology by 16.5% during the second quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock valued at $1,095,740,000 after acquiring an additional 1,034,254 shares in the last quarter. BlackRock Inc. grew its stake in shares of Align Technology by 5,738.0% during the first quarter. BlackRock Inc. now owns 6,640,531 shares of the medical equipment provider’s stock valued at $761,737,000 after acquiring an additional 6,526,784 shares in the last quarter. Polen Capital Management LLC grew its stake in shares of Align Technology by 6.8% during the second quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock valued at $504,789,000 after acquiring an additional 212,773 shares in the last quarter. State Street Corp grew its stake in shares of Align Technology by 32.2% during the second quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock valued at $471,823,000 after acquiring an additional 765,189 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Align Technology by 11.3% during the second quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock valued at $238,343,000 after acquiring an additional 160,881 shares in the last quarter. Institutional investors own 81.72% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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