Align Technology (NASDAQ:ALGN) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday, BidAskClub reports.

A number of other equities research analysts have also issued reports on the company. Wolfe Research began coverage on Align Technology in a research report on Thursday. They issued a “peer perform” rating for the company. ValuEngine lowered Align Technology from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research lowered Align Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. UBS Group set a $325.00 price target on Align Technology and gave the company a “hold” rating in a research report on Friday, April 26th. Finally, Credit Suisse Group upped their price objective on Align Technology from $305.00 to $316.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Align Technology presently has a consensus rating of “Buy” and a consensus price target of $339.31.

ALGN stock opened at $284.35 on Friday. The company has a market capitalization of $23.73 billion, a PE ratio of 57.79, a P/E/G ratio of 2.35 and a beta of 2.14. Align Technology has a 1 year low of $177.93 and a 1 year high of $398.88.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The business had revenue of $549.00 million during the quarter, compared to analyst estimates of $532.16 million. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The business’s revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share. As a group, sell-side analysts predict that Align Technology will post 5.4 EPS for the current fiscal year.

In other Align Technology news, CMO Raphael Pascaud sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $326.18, for a total transaction of $4,892,700.00. Following the transaction, the chief marketing officer now directly owns 34,092 shares in the company, valued at $11,120,128.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Julie Tay sold 13,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $322.41, for a total value of $4,352,535.00. Following the transaction, the senior vice president now owns 24,096 shares in the company, valued at $7,768,791.36. The disclosure for this sale can be found here. Insiders sold 52,909 shares of company stock worth $16,802,747 over the last quarter. 1.30% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in ALGN. BlackRock Inc. lifted its stake in Align Technology by 31.7% during the fourth quarter. BlackRock Inc. now owns 6,935,085 shares of the medical equipment provider’s stock worth $1,452,414,000 after purchasing an additional 1,670,441 shares in the last quarter. Viking Global Investors LP lifted its stake in Align Technology by 220.1% during the first quarter. Viking Global Investors LP now owns 1,795,990 shares of the medical equipment provider’s stock worth $510,654,000 after purchasing an additional 1,234,890 shares in the last quarter. Norges Bank acquired a new position in Align Technology during the fourth quarter worth $180,162,000. Goldman Sachs Group Inc. lifted its stake in Align Technology by 68.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,173,060 shares of the medical equipment provider’s stock worth $333,537,000 after purchasing an additional 478,597 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Align Technology by 22.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,334,677 shares of the medical equipment provider’s stock worth $279,521,000 after purchasing an additional 244,095 shares in the last quarter. Institutional investors own 82.66% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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