ValuEngine lowered shares of Align Technology (NASDAQ:ALGN) from a hold rating to a sell rating in a research note released on Monday morning, ValuEngine reports.

Several other research analysts also recently issued reports on ALGN. Credit Suisse Group lowered their price target on shares of Align Technology from $340.00 to $320.00 and set an outperform rating for the company in a report on Thursday, July 25th. UBS Group set a $230.00 price target on shares of Align Technology and gave the stock a hold rating in a report on Friday, July 26th. Zacks Investment Research upgraded shares of Align Technology from a sell rating to a hold rating and set a $262.00 price target for the company in a report on Friday, October 25th. Barclays reduced their price objective on shares of Align Technology from $300.00 to $272.00 and set an overweight rating on the stock in a research note on Monday, October 7th. Finally, Piper Jaffray Companies set a $240.00 price objective on shares of Align Technology and gave the stock a buy rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Align Technology currently has an average rating of Buy and an average price target of $255.27.

Shares of NASDAQ:ALGN traded up $0.98 during trading on Monday, hitting $259.92. 685,500 shares of the company were exchanged, compared to its average volume of 1,286,368. The business’s 50 day moving average is $212.28 and its 200-day moving average is $244.70. The company has a market capitalization of $20.33 billion, a P/E ratio of 52.83, a price-to-earnings-growth ratio of 2.27 and a beta of 2.07. The company has a quick ratio of 1.62, a current ratio of 1.73 and a debt-to-equity ratio of 0.03. Align Technology has a 1-year low of $169.84 and a 1-year high of $334.64.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.14. The company had revenue of $607.30 million during the quarter, compared to the consensus estimate of $595.29 million. Align Technology had a net margin of 18.28% and a return on equity of 28.76%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. As a group, sell-side analysts anticipate that Align Technology will post 5.17 earnings per share for the current year.

In other Align Technology news, Director Andrea Lynn Saia sold 4,157 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $179.54, for a total transaction of $746,347.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Warren S. Thaler sold 1,942 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $250.84, for a total transaction of $487,131.28. Following the sale, the director now directly owns 43,900 shares in the company, valued at approximately $11,011,876. The disclosure for this sale can be found here. In the last three months, insiders sold 58,648 shares of company stock worth $11,658,308. 1.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Buckingham Capital Management Inc. boosted its position in shares of Align Technology by 9.1% during the 1st quarter. Buckingham Capital Management Inc. now owns 3,883 shares of the medical equipment provider’s stock worth $1,104,000 after purchasing an additional 323 shares in the last quarter. WINTON GROUP Ltd boosted its position in shares of Align Technology by 43.5% during the 2nd quarter. WINTON GROUP Ltd now owns 2,640 shares of the medical equipment provider’s stock worth $723,000 after purchasing an additional 800 shares in the last quarter. TrimTabs Asset Management LLC bought a new position in shares of Align Technology during the 2nd quarter worth about $1,029,000. RDA Financial Network boosted its position in shares of Align Technology by 10.4% during the 2nd quarter. RDA Financial Network now owns 2,524 shares of the medical equipment provider’s stock worth $687,000 after purchasing an additional 237 shares in the last quarter. Finally, Chicago Capital LLC bought a new position in shares of Align Technology during the 2nd quarter worth about $492,000. 88.33% of the stock is currently owned by institutional investors and hedge funds.

About Align Technology

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.

Further Reading: Float

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.