Align Technology (NASDAQ:ALGN)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Morgan Stanley in a research note issued on Thursday. They presently have a $220.00 price objective on the medical equipment provider’s stock. Morgan Stanley’s price target points to a potential downside of 10.96% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Credit Suisse Group upgraded shares of Align Technology to a “buy” rating and set a $276.00 price objective for the company in a research note on Thursday, January 4th. ValuEngine upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub downgraded shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Piper Jaffray reiterated a “buy” rating and set a $300.00 price objective on shares of Align Technology in a research note on Wednesday, January 31st. Finally, Stifel Nicolaus raised their target price on shares of Align Technology from $265.00 to $295.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $258.28.

NASDAQ:ALGN opened at $247.07 on Thursday. Align Technology has a 12 month low of $118.08 and a 12 month high of $287.32. The firm has a market cap of $20,258.79, a PE ratio of 63.51, a P/E/G ratio of 1.91 and a beta of 1.47.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.23. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The business had revenue of $421.30 million during the quarter, compared to the consensus estimate of $395.88 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 43.7% compared to the same quarter last year. research analysts predict that Align Technology will post 4.53 EPS for the current fiscal year.

In related news, VP Emory Wright sold 45,780 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the completion of the transaction, the vice president now owns 29,957 shares of the company’s stock, valued at $7,791,216.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Hogan bought 1,500 shares of Align Technology stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $233.63 per share, with a total value of $350,445.00. Following the acquisition, the insider now owns 42,984 shares of the company’s stock, valued at $10,042,351.92. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Pension Service increased its holdings in Align Technology by 98,968.3% in the fourth quarter. National Pension Service now owns 81,236 shares of the medical equipment provider’s stock valued at $18,050,000 after buying an additional 81,154 shares in the last quarter. APG Asset Management N.V. increased its holdings in Align Technology by 113.1% in the fourth quarter. APG Asset Management N.V. now owns 107,400 shares of the medical equipment provider’s stock valued at $19,873,000 after buying an additional 57,000 shares in the last quarter. HWG Holdings LP increased its holdings in Align Technology by 579.3% in the fourth quarter. HWG Holdings LP now owns 3,057 shares of the medical equipment provider’s stock valued at $679,000 after buying an additional 2,607 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Align Technology by 1,899.1% in the third quarter. Neuberger Berman Group LLC now owns 101,435 shares of the medical equipment provider’s stock valued at $18,894,000 after buying an additional 96,361 shares in the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new position in Align Technology in the fourth quarter valued at $2,479,000. 80.45% of the stock is owned by institutional investors.

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Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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