Shares of Align Technology, Inc. (NASDAQ:ALGN) have received a consensus rating of “Buy” from the nineteen brokerages that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $350.28.
A number of equities research analysts recently commented on ALGN shares. Stifel Nicolaus increased their price objective on shares of Align Technology from $295.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. Berenberg Bank started coverage on shares of Align Technology in a research note on Friday, April 20th. They issued a “buy” rating and a $305.00 price objective on the stock. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $289.00 price objective on the stock in a research note on Monday, April 30th. Jefferies Financial Group increased their price objective on shares of Align Technology to $350.00 and gave the company a “buy” rating in a research note on Thursday, May 24th. Finally, BidaskClub cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th.
Shares of Align Technology traded down $2.34, reaching $364.53, on Tuesday, MarketBeat Ratings reports. 388,187 shares of the company were exchanged, compared to its average volume of 792,147. The stock has a market cap of $29.47 billion, a PE ratio of 93.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.50. Align Technology has a 1-year low of $165.18 and a 1-year high of $385.00.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.21. The firm had revenue of $490.26 million for the quarter, compared to analysts’ expectations of $472.10 million. Align Technology had a net margin of 17.00% and a return on equity of 32.61%. The firm’s revenue was up 37.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. analysts forecast that Align Technology will post 4.98 EPS for the current year.
In other Align Technology news, Director Warren S. Thaler sold 3,500 shares of the firm’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $315.10, for a total transaction of $1,102,850.00. Following the sale, the director now directly owns 47,015 shares of the company’s stock, valued at approximately $14,814,426.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg J. Santora sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $324.07, for a total transaction of $1,782,385.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,692 shares of company stock worth $15,997,128 over the last ninety days. 1.40% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ALGN. FMR LLC lifted its holdings in shares of Align Technology by 251.6% during the 2nd quarter. FMR LLC now owns 1,705,510 shares of the medical equipment provider’s stock worth $583,523,000 after acquiring an additional 1,220,448 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of Align Technology during the 1st quarter worth about $72,283,000. TCW Group Inc. lifted its holdings in shares of Align Technology by 140.9% during the 1st quarter. TCW Group Inc. now owns 174,075 shares of the medical equipment provider’s stock worth $43,715,000 after acquiring an additional 101,807 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Align Technology by 63.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 250,630 shares of the medical equipment provider’s stock worth $62,941,000 after acquiring an additional 96,894 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Align Technology by 33.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 339,582 shares of the medical equipment provider’s stock worth $85,278,000 after acquiring an additional 85,267 shares during the period. 78.32% of the stock is currently owned by institutional investors.
About Align Technology
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
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