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

Shares of Align Technology, Inc. (NASDAQ:ALGNGet Free Report) have received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $338.90.

A number of research analysts have recently issued reports on ALGN shares. Morgan Stanley decreased their target price on Align Technology from $415.00 to $378.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. Stifel Nicolaus reduced their price objective on shares of Align Technology from $430.00 to $390.00 and set a “buy” rating on the stock in a report on Tuesday, October 24th. The Goldman Sachs Group boosted their price objective on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday. Evercore ISI dropped their target price on Align Technology from $400.00 to $320.00 in a research report on Wednesday, October 11th. Finally, Piper Sandler boosted their price objective on Align Technology from $290.00 to $335.00 and gave the stock an “overweight” rating in a research report on Thursday.

View Our Latest Report on Align Technology

Insider Buying and Selling at Align Technology

In other news, CEO Joseph M. Hogan acquired 5,194 shares of Align Technology stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $192.50 per share, for a total transaction of $999,845.00. Following the completion of the purchase, the chief executive officer now owns 208,664 shares in the company, valued at $40,167,820. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Align Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its stake in Align Technology by 3.1% in the second quarter. Sequoia Financial Advisors LLC now owns 998 shares of the medical equipment provider’s stock valued at $353,000 after buying an additional 30 shares during the last quarter. King Luther Capital Management Corp raised its stake in shares of Align Technology by 2.4% during the second quarter. King Luther Capital Management Corp now owns 1,298 shares of the medical equipment provider’s stock worth $459,000 after purchasing an additional 30 shares during the last quarter. Metropolitan Life Insurance Co NY raised its stake in shares of Align Technology by 0.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,202 shares of the medical equipment provider’s stock worth $886,000 after purchasing an additional 31 shares during the last quarter. EFG Asset Management Americas Corp. raised its stake in shares of Align Technology by 3.6% during the fourth quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock worth $320,000 after purchasing an additional 41 shares during the last quarter. Finally, Dfpg Investments LLC raised its stake in shares of Align Technology by 3.3% during the fourth quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock worth $340,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $273.90 on Friday. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20. The firm has a market capitalization of $20.98 billion, a price-to-earnings ratio of 47.06, a price-to-earnings-growth ratio of 2.05 and a beta of 1.64. The business’s 50 day moving average price is $255.26 and its 200-day moving average price is $282.60.

About Align Technology

(Get Free Report

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, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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