Align Technology, Inc. (ALGN) Given Consensus Recommendation of “Buy” by Analysts
Align Technology, Inc. (NASDAQ:ALGN) has been assigned an average rating of “Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $179.56.
A number of analysts recently commented on ALGN shares. Morgan Stanley reaffirmed an “overweight” rating and set a $175.00 price target on shares of Align Technology in a research report on Monday, June 19th. They noted that the move was a valuation call. Leerink Swann raised their target price on Align Technology from $149.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, June 26th. Northcoast Research reissued a “buy” rating and issued a $186.00 target price (up from $164.00) on shares of Align Technology in a research report on Wednesday, June 21st. Robert W. Baird raised Align Technology from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $105.00 to $155.00 in a research report on Friday, April 28th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $176.00 target price on shares of Align Technology in a research report on Friday, July 28th.
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Align Technology (NASDAQ:ALGN) opened at 167.98 on Tuesday. The company’s 50 day moving average price is $163.24 and its 200-day moving average price is $133.71. Align Technology has a 12-month low of $83.27 and a 12-month high of $179.76. The firm has a market capitalization of $13.46 billion, a price-to-earnings ratio of 57.53 and a beta of 1.55.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. The company had revenue of $356.50 million during the quarter, compared to the consensus estimate of $343.43 million. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. Align Technology’s revenue was up 32.3% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. On average, equities analysts anticipate that Align Technology will post $3.40 earnings per share for the current fiscal year.
In other news, Director Joseph Lacob sold 3,874 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $143.96, for a total value of $557,701.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sreelakshmi Kolli sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $144.00, for a total value of $144,000.00. Following the completion of the transaction, the vice president now directly owns 23,785 shares of the company’s stock, valued at $3,425,040. The disclosure for this sale can be found here. Insiders sold 54,874 shares of company stock valued at $7,950,701 over the last three months. Company insiders own 2.00% of the company’s stock.
A number of large investors have recently bought and sold shares of ALGN. Capstone Asset Management Co. raised its stake in Align Technology by 3.6% in the first quarter. Capstone Asset Management Co. now owns 10,346 shares of the medical equipment provider’s stock valued at $1,187,000 after buying an additional 360 shares in the last quarter. Oakbrook Investments LLC raised its stake in Align Technology by 1.6% in the first quarter. Oakbrook Investments LLC now owns 6,350 shares of the medical equipment provider’s stock valued at $728,000 after buying an additional 100 shares in the last quarter. Diversified Trust Co acquired a new stake in Align Technology during the first quarter valued at about $247,000. Mn Services Vermogensbeheer B.V. raised its stake in Align Technology by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,917 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 52 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Align Technology by 6.8% in the first quarter. Profund Advisors LLC now owns 11,547 shares of the medical equipment provider’s stock valued at $1,325,000 after buying an additional 738 shares in the last quarter. 88.07% of the stock is owned by 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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