Align Technology, Inc. (NASDAQ:ALGN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Align Technology, Inc. (NASDAQ:ALGN) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $271.40.

ALGN has been the subject of a number of research reports. Robert W. Baird lowered their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Evercore ISI lifted their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Mizuho assumed coverage on shares of Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. Bank of America lifted their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th.

Align Technology Price Performance

ALGN opened at $205.34 on Thursday. The stock has a market capitalization of $15.33 billion, a P/E ratio of 36.60, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67. The company’s 50 day simple moving average is $220.34 and its 200-day simple moving average is $225.35. Align Technology has a one year low of $196.09 and a one year high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, analysts anticipate that Align Technology will post 8.09 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGN. Baker Avenue Asset Management LP bought a new stake in shares of Align Technology in the third quarter worth about $4,250,000. Swedbank AB grew its position in shares of Align Technology by 30.1% in the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock valued at $98,960,000 after purchasing an additional 90,000 shares during the period. KBC Group NV increased its stake in Align Technology by 11.8% during the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after purchasing an additional 5,663 shares in the last quarter. Nordea Investment Management AB raised its holdings in Align Technology by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after buying an additional 9,139 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Align Technology by 2.6% in the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after buying an additional 2,717 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

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.