Align Technology (NASDAQ:ALGN) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

ALGN has been the subject of a number of other research reports. Morgan Stanley raised their price objective on shares of Align Technology from $315.00 to $320.00 and gave the company an “equal weight” rating in a report on Tuesday. Piper Jaffray Companies raised their price objective on shares of Align Technology to $425.00 and gave the company an “overweight” rating in a report on Friday, July 20th. Bank of America initiated coverage on shares of Align Technology in a report on Monday, June 25th. They issued a “buy” rating and a $420.00 price objective for the company. Robert W. Baird raised their price objective on shares of Align Technology from $351.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Finally, Stifel Nicolaus raised their price objective on shares of Align Technology from $375.00 to $425.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $363.09.

Shares of NASDAQ ALGN opened at $327.50 on Friday. The company has a market capitalization of $31.42 billion, a P/E ratio of 84.19, a price-to-earnings-growth ratio of 2.61 and a beta of 1.52. Align Technology has a 1 year low of $191.35 and a 1 year high of $398.88.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.21. The business had revenue of $490.26 million during the quarter, compared to analyst estimates of $472.10 million. Align Technology had a net margin of 17.00% and a return on equity of 32.61%. The firm’s quarterly revenue was up 37.5% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS. On average, equities analysts expect that Align Technology will post 4.98 earnings per share for the current year.

In other Align Technology news, insider Joseph M. Hogan sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $367.48, for a total transaction of $9,187,000.00. Following the completion of the transaction, the insider now owns 105,713 shares in the company, valued at approximately $38,847,413.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Simon Beard sold 3,895 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $384.48, for a total transaction of $1,497,549.60. Following the transaction, the senior vice president now owns 3,577 shares of the company’s stock, valued at approximately $1,375,284.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,648 shares of company stock valued at $20,577,327. Company insiders own 1.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of Align Technology by 251.6% during the 2nd quarter. FMR LLC now owns 1,705,510 shares of the medical equipment provider’s stock worth $583,523,000 after buying an additional 1,220,448 shares during the period. Winslow Capital Management LLC acquired a new stake in shares of Align Technology during the 2nd quarter worth approximately $148,376,000. BlackRock Inc. grew its position in shares of Align Technology by 1.7% during the 2nd quarter. BlackRock Inc. now owns 5,150,916 shares of the medical equipment provider’s stock worth $1,762,334,000 after buying an additional 84,512 shares during the period. First Republic Investment Management Inc. grew its position in shares of Align Technology by 66.0% during the 2nd quarter. First Republic Investment Management Inc. now owns 201,947 shares of the medical equipment provider’s stock worth $69,094,000 after buying an additional 80,293 shares during the period. Finally, Sei Investments Co. grew its position in shares of Align Technology by 702.4% during the 2nd quarter. Sei Investments Co. now owns 91,371 shares of the medical equipment provider’s stock worth $31,262,000 after buying an additional 79,984 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

About Align Technology

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.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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