Align Technology, Inc. (NASDAQ:ALGN) had its price target hoisted by Goldman Sachs Group, Inc. (The) from $185.00 to $210.00 in a research note issued to investors on Friday. The firm currently has a buy rating on the medical equipment provider’s stock.

Several other research firms have also commented on ALGN. Piper Jaffray Companies reissued a buy rating and set a $176.00 price objective on shares of Align Technology in a research note on Friday, July 28th. Morgan Stanley reissued an overweight rating and set a $175.00 price objective on shares of Align Technology in a research note on Monday, June 19th. They noted that the move was a valuation call. Northcoast Research reissued a buy rating and set a $186.00 price objective (up previously from $164.00) on shares of Align Technology in a research note on Wednesday, June 21st. Stifel Nicolaus reissued a buy rating and set a $200.00 price objective (up previously from $145.00) on shares of Align Technology in a research note on Friday, June 23rd. Finally, Leerink Swann reissued an outperform rating and set a $199.00 price objective (up previously from $194.00) on shares of Align Technology in a research note on Friday, July 28th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $179.82.

Align Technology (NASDAQ:ALGN) traded down 0.19% during midday trading on Friday, hitting $184.50. 1,862,314 shares of the company were exchanged. The firm has a market capitalization of $14.79 billion, a PE ratio of 63.18 and a beta of 1.55. The stock has a 50 day moving average of $175.22 and a 200 day moving average of $143.46. Align Technology has a 1-year low of $83.27 and a 1-year high of $186.10.

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

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A number of institutional investors have recently modified their holdings of ALGN. Janney Montgomery Scott LLC raised its holdings in Align Technology by 30.1% in the first quarter. Janney Montgomery Scott LLC now owns 2,939 shares of the medical equipment provider’s stock worth $337,000 after buying an additional 680 shares during the last quarter. American Century Companies Inc. raised its holdings in Align Technology by 16.5% in the first quarter. American Century Companies Inc. now owns 9,461 shares of the medical equipment provider’s stock worth $1,085,000 after buying an additional 1,337 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Align Technology by 8.8% in the first quarter. BNP Paribas Arbitrage SA now owns 23,605 shares of the medical equipment provider’s stock worth $2,708,000 after buying an additional 1,906 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Align Technology by 4.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,017 shares of the medical equipment provider’s stock worth $1,378,000 after buying an additional 541 shares during the last quarter. Finally, World Asset Management Inc raised its holdings in Align Technology by 16.0% in the first quarter. World Asset Management Inc now owns 5,269 shares of the medical equipment provider’s stock worth $604,000 after buying an additional 728 shares during the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

About Align Technology

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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