Align Technology, Inc. (NASDAQ:ALGN) Receives $271.20 Consensus Price Target from Analysts

Shares of Align Technology, Inc. (NASDAQ:ALGN) have been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $271.20.

A number of research firms recently issued reports on ALGN. Mizuho initiated coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Robert W. Baird dropped their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Piper Sandler lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Bank of America increased their target price 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.

Align Technology Stock Performance

Align Technology stock opened at $211.43 on Wednesday. The stock has a fifty day moving average of $222.34 and a two-hundred day moving average of $231.73. Align Technology has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 6.20 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. On average, analysts forecast that Align Technology will post 7.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALGN. Achmea Investment Management B.V. raised its holdings in shares of Align Technology by 3.4% during the second quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock worth $2,495,000 after purchasing an additional 339 shares during the last quarter. Baker Avenue Asset Management LP acquired a new stake in Align Technology during the third quarter worth about $4,250,000. Swedbank AB raised its position in Align Technology by 30.1% during the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock valued at $98,960,000 after acquiring an additional 90,000 shares in the last quarter. KBC Group NV lifted its holdings in Align Technology by 11.8% in the third quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock valued at $13,595,000 after acquiring an additional 5,663 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Align Technology by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock worth $26,900,000 after purchasing an additional 2,717 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Company Profile

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.