Align Technology (NASDAQ:ALGN) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Align Technology, Inc. (NASDAQ:ALGN)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $157.87 and traded as high as $171.15. Align Technology shares last traded at $166.87, with a volume of 933,692 shares changing hands.

Analyst Ratings Changes

A number of research firms recently commented on ALGN. Morgan Stanley increased their target price on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Mizuho upped their price target on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Stifel Nicolaus increased their price objective on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. UBS Group increased their price objective on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Finally, Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price target on the stock in a research report on Tuesday, March 17th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and a consensus target price of $198.08.

Align Technology Stock Performance

The business’s 50 day moving average price is $177.37 and its 200-day moving average price is $157.87. The firm has a market capitalization of $11.95 billion, a PE ratio of 29.48, a P/E/G ratio of 1.86 and a beta of 1.81.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.44 EPS. As a group, analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Insider Activity

In related news, EVP John Morici sold 7,969 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the sale, the executive vice president owned 8,237 shares in the company, valued at $1,559,346.47. This represents a 49.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Align Technology

Large investors have recently bought and sold shares of the company. Capital International Investors increased its holdings in shares of Align Technology by 52.2% in the 4th quarter. Capital International Investors now owns 4,643,221 shares of the medical equipment provider’s stock valued at $725,039,000 after purchasing an additional 1,592,848 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Align Technology during the 3rd quarter worth about $179,035,000. Ruane Cunniff & Goldfarb L.P. acquired a new stake in shares of Align Technology during the 4th quarter worth about $190,899,000. Norges Bank acquired a new stake in shares of Align Technology during the 4th quarter worth about $155,556,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Align Technology by 247.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,005,413 shares of the medical equipment provider’s stock worth $156,995,000 after acquiring an additional 715,919 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.