Align Technology, Inc. (NASDAQ:ALGN) Receives $198.08 Average Target Price from Brokerages

Shares of Align Technology, Inc. (NASDAQ:ALGN) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $201.3077.

ALGN has been the topic of a number of recent analyst reports. Mizuho boosted their target price on Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Leerink Partners boosted their target price on Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Evercore reaffirmed an “outperform” rating on shares of Align Technology in a research report on Wednesday, April 8th. Piper Sandler boosted their target price on Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Finally, Wells Fargo & Company upped their price target on Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in Align Technology by 67.8% during the first quarter. SG Americas Securities LLC now owns 232,442 shares of the medical equipment provider’s stock valued at $39,848,000 after buying an additional 93,953 shares during the period. Evolve Private Wealth LLC increased its position in Align Technology by 3.1% in the 1st quarter. Evolve Private Wealth LLC now owns 4,296 shares of the medical equipment provider’s stock worth $736,000 after purchasing an additional 131 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Align Technology in the 1st quarter worth about $18,276,000. Rockefeller Capital Management L.P. increased its position in Align Technology by 108.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,884 shares of the medical equipment provider’s stock worth $1,075,000 after purchasing an additional 3,579 shares during the last quarter. Finally, Tobam acquired a new position in Align Technology in the 4th quarter worth about $30,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Down 0.8%

Shares of Align Technology stock opened at $185.02 on Tuesday. The stock’s fifty day moving average is $179.60 and its 200-day moving average is $159.99. The firm has a market capitalization of $13.25 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.04 and a beta of 1.81. Align Technology has a 12-month low of $122.00 and a 12-month high of $208.30.

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

Align Technology Company Profile

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.