Align Technology, Inc. (NASDAQ:ALGN) Given Average Rating of “Hold” by Analysts

Shares of Align Technology, Inc. (NASDAQ:ALGN) have been assigned a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $344.45.

Several equities research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Piper Sandler upped their target price on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. The Goldman Sachs Group upped their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. Finally, SVB Leerink started coverage on shares of Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price on the stock.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $301.34 on Friday. The company’s 50-day moving average price is $312.73 and its two-hundred day moving average price is $270.18. Align Technology has a one year low of $176.34 and a one year high of $413.20. The stock has a market capitalization of $22.68 billion, a PE ratio of 51.78, a price-to-earnings-growth ratio of 5.46 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The firm had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. On average, analysts anticipate that Align Technology will post 7.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the transaction, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the transaction, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 in the last three months. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Align Technology by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 8,349,785 shares of the medical equipment provider’s stock worth $2,287,841,000 after purchasing an additional 104,132 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Align Technology by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 1,583,410 shares of the medical equipment provider’s stock worth $527,928,000 after acquiring an additional 34,131 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Align Technology by 41.4% during the 4th quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock worth $413,488,000 after acquiring an additional 441,754 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Align Technology by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,228,875 shares of the medical equipment provider’s stock worth $375,200,000 after acquiring an additional 29,497 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Align Technology by 2.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,147,330 shares of the medical equipment provider’s stock worth $405,742,000 after acquiring an additional 24,139 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Company Profile

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, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.