Investment Analysts’ Recent Ratings Updates for Align Technology (ALGN)

Several brokerages have updated their recommendations and price targets on shares of Align Technology (NASDAQ: ALGN) in the last few weeks:

  • 5/4/2022 – Align Technology had its price target lowered by analysts at Credit Suisse Group AG from $722.00 to $418.00.
  • 4/28/2022 – Align Technology had its price target lowered by analysts at Robert W. Baird from $625.00 to $510.00. They now have an “outperform” rating on the stock.
  • 4/28/2022 – Align Technology had its price target lowered by analysts at Stifel Nicolaus from $575.00 to $425.00.
  • 4/28/2022 – Align Technology had its price target lowered by analysts at Morgan Stanley from $575.00 to $524.00.
  • 4/28/2022 – Align Technology had its price target lowered by analysts at Piper Sandler from $600.00 to $440.00.
  • 4/26/2022 – Align Technology had its price target lowered by analysts at UBS Group AG from $620.00 to $500.00. They now have a “buy” rating on the stock.
  • 4/25/2022 – Align Technology was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 4/21/2022 – Align Technology had its price target lowered by analysts at Piper Sandler from $740.00 to $600.00. They now have an “overweight” rating on the stock.
  • 3/31/2022 – Align Technology is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/22/2022 – Align Technology was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $454.00 price target on the stock. According to Zacks, “Align Technology exited the fourth quarter with better-than-expected results. The growing market adoption of the iTero Element 5D Plus imaging system appears promising. Impressive international performance across geographies also buoys optimism. However, Align Technology witnessed a 29.5% year-over-year increase in selling, general and administrative expenses and a 48.3% rise in research and development expenses during the fourth quarter of 2021. These escalating expenses are building pressure on the bottom line. On a sequential basis, Clear Aligner revenues were down in the quarter due to lower Invisalign volumes. Further, Americas shipments were down 7.9% sequentially, primarily due to the impact of the Omicron variant as well as a seasonally slower teen season. Align Technology has underperformed its industry in the past year.”

NASDAQ:ALGN traded down $4.79 during midday trading on Tuesday, reaching $264.17. 48,321 shares of the stock traded hands, compared to its average volume of 960,972. Align Technology, Inc. has a 12 month low of $265.30 and a 12 month high of $737.45. The stock has a market capitalization of $20.82 billion, a P/E ratio of 29.72, a PEG ratio of 4.48 and a beta of 1.76. The company has a fifty day moving average of $401.98 and a 200 day moving average of $522.81.

Align Technology (NASDAQ:ALGNGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The medical equipment provider reported $1.70 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.29). Align Technology had a net margin of 17.51% and a return on equity of 19.90%. The firm had revenue of $973.22 million for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the company posted $2.51 earnings per share. As a group, analysts forecast that Align Technology, Inc. will post 8.65 EPS for the current fiscal year.

In related news, CEO Joseph M. Hogan purchased 6,700 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were purchased at an average price of $298.48 per share, with a total value of $1,999,816.00. Following the acquisition, the chief executive officer now directly owns 174,801 shares in the company, valued at approximately $52,174,602.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Align Technology by 4.0% during the 4th quarter. BlackRock Inc. now owns 5,743,160 shares of the medical equipment provider’s stock valued at $3,774,290,000 after buying an additional 223,431 shares in the last quarter. State Street Corp grew its holdings in Align Technology by 3.2% during the 4th quarter. State Street Corp now owns 3,130,957 shares of the medical equipment provider’s stock valued at $2,057,602,000 after buying an additional 95,811 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Align Technology by 38.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,425,299 shares of the medical equipment provider’s stock valued at $1,593,858,000 after buying an additional 678,453 shares in the last quarter. Wellington Management Group LLP grew its holdings in Align Technology by 13.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,143,276 shares of the medical equipment provider’s stock valued at $1,426,200,000 after buying an additional 255,913 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Align Technology by 43.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,093,753 shares of the medical equipment provider’s stock valued at $1,393,258,000 after buying an additional 631,630 shares in the last quarter. Institutional investors own 88.17% of the company’s stock.

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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