Align Technology, Inc. (NASDAQ:ALGN) Receives Average Rating of “Buy” from Analysts

Shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) have earned an average recommendation of “Buy” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $578.27.

ALGN has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price objective on shares of Align Technology from $575.00 to $425.00 in a research report on Thursday, April 28th. TheStreet lowered shares of Align Technology from a “b-” rating to a “c+” rating in a research note on Monday, April 25th. Zacks Investment Research raised shares of Align Technology from a “sell” rating to a “hold” rating and set a $454.00 target price on the stock in a research note on Tuesday, March 22nd. StockNews.com began coverage on Align Technology in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Credit Suisse Group dropped their price objective on Align Technology from $722.00 to $418.00 in a report on Wednesday, May 4th.

ALGN stock traded up $1.15 during trading on Friday, hitting $275.04. 922,915 shares of the company traded hands, compared to its average volume of 984,341. Align Technology has a 1 year low of $250.64 and a 1 year high of $737.45. The company has a market cap of $21.67 billion, a PE ratio of 30.94, a P/E/G ratio of 4.30 and a beta of 1.76. The stock’s 50-day simple moving average is $373.69 and its 200 day simple moving average is $504.73.

Align Technology (NASDAQ:ALGNGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The medical equipment provider reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.29). Align Technology had a return on equity of 19.90% and a net margin of 17.51%. The firm had revenue of $973.22 million for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business earned $2.51 EPS. Research analysts predict that Align Technology will post 8.65 earnings per share for the current year.

In related news, Director C Raymond Larkin, Jr. purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average price of $264.42 per share, with a total value of $264,420.00. Following the completion of the acquisition, the director now owns 18,190 shares in the company, valued at $4,809,799.80. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph M. Hogan purchased 6,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was bought at an average cost of $298.48 per share, with a total value of $1,999,816.00. Following the acquisition, the chief executive officer now owns 174,801 shares of the company’s stock, valued at approximately $52,174,602.48. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Personal CFO Solutions LLC boosted its holdings in Align Technology by 1.4% in the 3rd quarter. Personal CFO Solutions LLC now owns 1,226 shares of the medical equipment provider’s stock valued at $816,000 after purchasing an additional 17 shares during the last quarter. NEXT Financial Group Inc grew its position in Align Technology by 37.0% in the fourth quarter. NEXT Financial Group Inc now owns 74 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 20 shares during the period. Camden Capital LLC grew its position in Align Technology by 4.2% in the fourth quarter. Camden Capital LLC now owns 521 shares of the medical equipment provider’s stock worth $342,000 after acquiring an additional 21 shares during the period. Kestra Advisory Services LLC increased its position in shares of Align Technology by 1.3% during the 4th quarter. Kestra Advisory Services LLC now owns 1,759 shares of the medical equipment provider’s stock worth $1,156,000 after purchasing an additional 22 shares during the last quarter. Finally, Insight Wealth Strategies LLC increased its position in shares of Align Technology by 1.9% during the 4th quarter. Insight Wealth Strategies LLC now owns 1,241 shares of the medical equipment provider’s stock worth $816,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 88.17% of the company’s stock.

Align Technology Company Profile (Get Rating)

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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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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