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

Shares of Align Technology, Inc. (NASDAQ:ALGN) have been assigned an average rating of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $195.5833.

A number of brokerages have issued reports on ALGN. Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Barclays assumed coverage on shares of Align Technology in a report on Monday, December 8th. They issued an “equal weight” rating and a $170.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Wells Fargo & Company upped their price target on shares of Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th.

Insiders Place Their Bets

In related news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction dated 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 $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Align Technology by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock worth $1,039,528,000 after acquiring an additional 58,546 shares during the last quarter. Capital International Investors increased its stake in 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 worth $725,039,000 after purchasing an additional 1,592,848 shares in the last quarter. Ninety One UK Ltd lifted its stake in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock valued at $283,898,000 after buying an additional 350,883 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Align Technology by 37.4% in the third quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider’s stock worth $187,521,000 after buying an additional 407,559 shares during the period. Finally, Capital World Investors increased its position in shares of Align Technology by 13.2% in the fourth quarter. Capital World Investors now owns 1,490,503 shares of the medical equipment provider’s stock worth $232,742,000 after acquiring an additional 173,641 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

ALGN stock opened at $190.02 on Monday. Align Technology has a 1 year low of $122.00 and a 1 year high of $208.30. The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.08 and a beta of 1.84. The stock’s fifty day moving average is $169.74 and its two-hundred day moving average is $149.44.

Align Technology (NASDAQ:ALGN) last posted its 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. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $2.44 EPS. Align Technology’s revenue was up 5.3% on a year-over-year basis. As a group, analysts predict that Align Technology will post 7.98 EPS for the current fiscal 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.