Align Technology, Inc. (NASDAQ:ALGN) Receives Consensus Recommendation of “Hold” from Analysts

Align Technology, Inc. (NASDAQ:ALGN) has been assigned an average rating of “Hold” from the fourteen analysts that are covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $198.0833.

A number of research firms recently commented on ALGN. Leerink Partners lifted their price target on Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Wall Street Zen raised Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Barclays boosted their target price on Align Technology from $170.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday. Evercore increased their price target on Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th.

Insider Activity at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at $1,559,346.47. This represents a 49.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Align Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Align Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock worth $1,039,528,000 after purchasing an additional 58,546 shares during the last quarter. Capital International Investors lifted its holdings in shares of Align Technology by 52.2% during the fourth quarter. Capital International Investors now owns 4,643,221 shares of the medical equipment provider’s stock worth $725,039,000 after buying an additional 1,592,848 shares in the last quarter. Ninety One UK Ltd lifted its holdings in shares of Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after buying an additional 350,883 shares in the last quarter. Invesco Ltd. grew its stake in shares of Align Technology by 37.4% in the third quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider’s stock valued at $187,521,000 after acquiring an additional 407,559 shares in the last quarter. Finally, Capital World Investors increased its position in Align Technology by 13.2% during the fourth quarter. Capital World Investors now owns 1,490,503 shares of the medical equipment provider’s stock worth $232,742,000 after acquiring an additional 173,641 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Up 0.5%

NASDAQ ALGN opened at $190.10 on Monday. Align Technology has a 12 month low of $122.00 and a 12 month high of $208.30. The stock has a 50 day moving average of $172.32 and a 200-day moving average of $151.10. The company has a market cap of $13.64 billion, a PE ratio of 33.59, a PEG ratio of 2.08 and a beta of 1.79.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 earnings per share. As a group, sell-side analysts predict that Align Technology will post 7.98 EPS for the current fiscal year.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.