Align Technology, Inc. (NASDAQ:ALGN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Align Technology, Inc. (NASDAQ:ALGN) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $344.45.

Several research firms recently weighed in on ALGN. Stifel Nicolaus boosted their price target on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday. SVB Leerink began coverage on shares of Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target on the stock. UBS Group boosted their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd.

Align Technology Stock Performance

Align Technology stock opened at $301.34 on Friday. Align Technology has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The stock has a market cap of $22.68 billion, a PE ratio of 51.78, a price-to-earnings-growth ratio of 5.46 and a beta of 1.65. The firm’s 50-day simple moving average is $312.73 and its 200 day simple moving average is $270.18.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The business had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. As a group, analysts predict that Align Technology will post 7.69 EPS for the current fiscal year.

Insider Activity

In other news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the sale, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the sale, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 over the last quarter. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Align Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of ALGN. Rhenman & Partners Asset Management AB bought a new stake in Align Technology during the 3rd quarter worth approximately $305,000. Norges Bank bought a new stake in Align Technology during the 4th quarter worth approximately $223,610,000. Ameriprise Financial Inc. increased its holdings in Align Technology by 348.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after acquiring an additional 587,886 shares during the period. Brown Advisory Inc. increased its holdings in Align Technology by 41.4% during the 4th quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock worth $413,488,000 after acquiring an additional 441,754 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Align Technology by 102.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 414,772 shares of the medical equipment provider’s stock worth $113,648,000 after acquiring an additional 209,419 shares during the period. Institutional investors own 88.43% of the company’s stock.

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.