Align Technology, Inc. (NASDAQ:ALGN) Receives Consensus Rating of “Moderate Buy” from Analysts

Align Technology, Inc. (NASDAQ:ALGN) has been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $198.0833.

ALGN has been the topic of several analyst reports. Jefferies Financial Group increased their price target on shares of Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Wells Fargo & Company increased their price target on shares of Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Mizuho increased their price target on shares of Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Wall Street Zen upgraded shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Finally, Robert W. Baird set a $218.00 price target on shares of Align Technology in a research report on Thursday, February 5th.

Insider Activity

In other Align Technology news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the sale, the executive vice president owned 8,237 shares in the company, valued at $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of Align Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Align Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock valued at $1,039,528,000 after buying an additional 58,546 shares in the last quarter. Capital International Investors boosted its position in Align Technology by 52.2% in the fourth quarter. Capital International Investors now owns 4,643,221 shares of the medical equipment provider’s stock valued at $725,039,000 after buying an additional 1,592,848 shares in the last quarter. Ninety One UK Ltd boosted its position in Align Technology by 18.3% in 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 position in Align Technology by 37.4% in the third quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider’s stock valued at $187,521,000 after buying an additional 407,559 shares in the last quarter. Finally, Capital World Investors boosted its position in 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 valued at $232,742,000 after buying an additional 173,641 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Up 4.3%

Shares of ALGN opened at $180.67 on Tuesday. The stock has a market capitalization of $12.94 billion, a PE ratio of 31.92, a P/E/G ratio of 1.89 and a beta of 1.81. The firm’s 50 day moving average is $178.36 and its 200-day moving average is $159.22. Align Technology has a 12 month low of $122.00 and a 12 month high of $208.30.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. Equities research analysts predict that Align Technology will post 7.98 earnings per share 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.