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

Align Technology, Inc. (NASDAQ:ALGN) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $269.91.

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Evercore ISI upped their price objective 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. Piper Sandler lowered their price objective on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Finally, Bank of America upped their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th.

Institutional Investors Weigh In On Align Technology

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Align Technology by 49.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after purchasing an additional 866,663 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Align Technology by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,790,014 shares of the medical equipment provider’s stock valued at $372,299,000 after purchasing an additional 39,209 shares during the last quarter. FMR LLC boosted its stake in shares of Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after purchasing an additional 367,508 shares during the last quarter. Ninety One UK Ltd boosted its stake in shares of Align Technology by 3.7% in the 4th quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock valued at $254,508,000 after purchasing an additional 43,524 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Align Technology by 17.1% in the 4th quarter. Invesco Ltd. now owns 1,082,162 shares of the medical equipment provider’s stock valued at $225,642,000 after purchasing an additional 158,312 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Up 1.0 %

Shares of NASDAQ:ALGN opened at $173.75 on Monday. The firm has a 50 day moving average of $208.02 and a 200-day moving average of $221.19. The stock has a market capitalization of $12.79 billion, a PE ratio of 30.97, a PEG ratio of 2.24 and a beta of 1.69. Align Technology has a 12 month low of $167.32 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, research analysts predict that Align Technology will post 7.98 EPS for the current fiscal 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.