Align Technology, Inc. (NASDAQ:ALGN)‘s stock had its “buy” rating reissued by stock analysts at Northcoast Research in a note issued to investors on Tuesday. They presently have a $230.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $200.00. Northcoast Research’s price target indicates a potential upside of 22.26% from the stock’s previous close.
ALGN has been the subject of several other research reports. Zacks Investment Research lowered Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Morgan Stanley reissued an “overweight” rating and set a $220.00 price objective (up previously from $195.00) on shares of Align Technology in a research note on Friday. Leerink Swann lifted their price objective on Align Technology from $149.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Goldman Sachs Group, Inc. (The) lifted their price objective on Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 15th. Finally, Robert W. Baird reissued a “buy” rating on shares of Align Technology in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Align Technology has an average rating of “Buy” and an average target price of $193.20.
Align Technology (NASDAQ ALGN) traded up 0.36% during mid-day trading on Tuesday, hitting $188.81. The stock had a trading volume of 484,615 shares. The firm’s 50-day moving average is $181.76 and its 200 day moving average is $153.16. Align Technology has a 12 month low of $83.27 and a 12 month high of $191.78. The company has a market cap of $15.13 billion, a price-to-earnings ratio of 64.66 and a beta of 1.54.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.12. The company had revenue of $356.50 million during the quarter, compared to analyst estimates of $343.43 million. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The firm’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. Equities analysts anticipate that Align Technology will post $3.41 EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the business. Navellier & Associates Inc lifted its stake in Align Technology by 4.5% during the second quarter. Navellier & Associates Inc now owns 68,761 shares of the medical equipment provider’s stock worth $10,322,000 after purchasing an additional 2,963 shares during the last quarter. Sentry Investment Management LLC bought a new stake in Align Technology during the second quarter worth about $882,000. Ashford Capital Management Inc. lifted its stake in Align Technology by 46.9% during the second quarter. Ashford Capital Management Inc. now owns 6,941 shares of the medical equipment provider’s stock worth $1,042,000 after purchasing an additional 2,216 shares during the last quarter. Toronto Dominion Bank lifted its stake in Align Technology by 3,163.1% during the second quarter. Toronto Dominion Bank now owns 25,583 shares of the medical equipment provider’s stock worth $3,840,000 after purchasing an additional 24,799 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in Align Technology during the second quarter worth about $470,000. 81.56% of the stock is owned by hedge funds and other institutional investors.
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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