Align Technology, Inc. (NASDAQ:ALGN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Align Technology, Inc. (NASDAQ:ALGN) have been assigned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $346.50.

ALGN has been the topic of a number of analyst reports. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Robert W. Baird raised their price target on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Piper Sandler reduced their price objective on Align Technology from $375.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. UBS Group raised their target price on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Finally, Morgan Stanley boosted their price target on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th.

Align Technology Stock Up 0.5 %

Shares of ALGN stock opened at $239.74 on Wednesday. The company has a market cap of $18.05 billion, a P/E ratio of 39.50, a PEG ratio of 4.47 and a beta of 1.66. The business has a 50 day moving average of $265.44 and a two-hundred day moving average of $283.94. Align Technology has a 52 week low of $176.34 and a 52 week high of $413.20.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The business had revenue of $997.43 million during the quarter, compared to analyst estimates of $971.97 million. Analysts expect that Align Technology will post 7.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Align Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mather Group LLC. acquired a new position in shares of Align Technology in the 1st quarter worth approximately $26,000. LRI Investments LLC acquired a new position in Align Technology in the first quarter worth approximately $29,000. Crewe Advisors LLC acquired a new position in Align Technology in the first quarter worth approximately $41,000. Orion Capital Management LLC bought a new position in shares of Align Technology in the third quarter valued at $61,000. Finally, Lindbrook Capital LLC lifted its position in shares of Align Technology by 47.2% during the 1st quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 60 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.