Align Technology, Inc. (NASDAQ:ALGN) Receives $276.38 Consensus Target Price from Analysts

Align Technology, Inc. (NASDAQ:ALGN) has been given an average rating of “Hold” by the ten analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $276.38.

A number of research analysts have recently weighed in on the stock. Evercore ISI reduced their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Piper Sandler reduced their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Stifel Nicolaus dropped their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Robert W. Baird decreased their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

Insider Buying and Selling

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norden Group LLC increased its stake in Align Technology by 86.9% in the 1st quarter. Norden Group LLC now owns 1,822 shares of the medical equipment provider’s stock worth $597,000 after acquiring an additional 847 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Align Technology by 81.4% in the first quarter. Private Advisor Group LLC now owns 2,262 shares of the medical equipment provider’s stock worth $742,000 after purchasing an additional 1,015 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Align Technology by 3.9% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,102 shares of the medical equipment provider’s stock worth $689,000 after purchasing an additional 78 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Align Technology by 1.2% in the first quarter. Daiwa Securities Group Inc. now owns 8,822 shares of the medical equipment provider’s stock valued at $2,893,000 after purchasing an additional 108 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Align Technology by 14.4% during the first quarter. Jennison Associates LLC now owns 100,300 shares of the medical equipment provider’s stock valued at $32,890,000 after purchasing an additional 12,601 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $220.51 on Tuesday. Align Technology has a 1 year low of $186.01 and a 1 year high of $335.40. The company has a market capitalization of $16.46 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 5.82 and a beta of 1.65. The business has a fifty day moving average price of $229.43 and a two-hundred day moving average price of $243.32.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. During the same period in the previous year, the firm earned $1.62 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that Align Technology will post 7.45 earnings per share for the current year.

About Align Technology

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.