Align Technology, Inc. (NASDAQ:ALGN)‘s stock had its “buy” rating reissued by investment analysts at Piper Jaffray Companies in a research report issued to clients and investors on Monday. They presently have a $200.00 price target on the medical equipment provider’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 7.72% from the company’s current price.
A number of other research analysts also recently issued reports on ALGN. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 target price (up previously from $200.00) on shares of Align Technology in a research report on Monday, August 7th. Bank of America Corporation upgraded shares of Align Technology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $175.00 to $193.00 in a research report on Friday, July 28th. Leerink Swann reiterated an “outperform” rating and set a $199.00 target price (up previously from $194.00) on shares of Align Technology in a research report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and set a $150.00 target price on shares of Align Technology in a research report on Thursday, June 1st. Finally, Zacks Investment Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 21st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $176.80.
Shares of Align Technology (ALGN) opened at 185.66 on Monday. The firm has a 50-day moving average of $172.28 and a 200 day moving average of $141.67. Align Technology has a 12-month low of $83.27 and a 12-month high of $186.10. The firm has a market capitalization of $14.88 billion, a price-to-earnings ratio of 63.58 and a beta of 1.55.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The company had revenue of $356.50 million for the quarter, compared to analyst estimates of $343.43 million. During the same period in the prior year, the firm posted $0.62 EPS. The company’s quarterly revenue was up 32.3% on a year-over-year basis. On average, equities research analysts expect that Align Technology will post $3.40 earnings per share for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schroder Investment Management Group acquired a new position in Align Technology during the second quarter worth $104,000. CENTRAL TRUST Co raised its holdings in Align Technology by 128.5% during the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after buying an additional 392 shares during the last quarter. Van ECK Associates Corp raised its holdings in Align Technology by 6.9% during the first quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock worth $121,000 after buying an additional 68 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in Align Technology by 13.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after buying an additional 105 shares during the last quarter. Finally, BlueMountain Capital Management LLC acquired a new position in Align Technology during the second quarter worth $148,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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