Align Technology, Inc. (NASDAQ:ALGN) Given Average Rating of “Moderate Buy” by Brokerages

Align Technology, Inc. (NASDAQ:ALGN) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $346.50.

A number of equities research analysts have weighed in on ALGN shares. Evercore ISI lowered their price target on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Piper Sandler dropped their target price on Align Technology from $375.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Stifel Nicolaus increased their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley boosted their price objective on shares of Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, Robert W. Baird increased their target price on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 25th.

Align Technology Stock Up 0.5 %

Align Technology stock opened at $239.74 on Wednesday. The stock has a market cap of $18.05 billion, a price-to-earnings ratio of 39.50, a PEG ratio of 4.47 and a beta of 1.66. The business has a 50-day simple moving average of $265.44 and a 200 day simple moving average of $283.94. Align Technology has a 52 week low of $176.34 and a 52 week high of $413.20.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.08. The firm had revenue of $997.43 million for the quarter, compared to analyst estimates of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. On average, research analysts anticipate that Align Technology will post 7.86 earnings per share for the current year.

Institutional Investors Weigh In On Align Technology

A number of large investors have recently made changes to their positions in ALGN. Mather Group LLC. purchased a new position in shares of Align Technology during the first quarter valued at about $26,000. LRI Investments LLC bought a new stake in Align Technology during the 1st quarter valued at approximately $29,000. Crewe Advisors LLC purchased a new position in shares of Align Technology during the 1st quarter worth approximately $41,000. Orion Capital Management LLC purchased a new position in shares of Align Technology in the 3rd quarter valued at approximately $61,000. Finally, Lindbrook Capital LLC lifted its stake in shares of Align Technology by 47.2% in the 1st quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 60 shares during the period. 88.43% of the stock is currently owned by institutional investors.

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.