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.

COPYRIGHT VIOLATION NOTICE: “Align Technology, Inc. (ALGN) Given Consensus Recommendation of “Buy” by Analysts” was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/08/22/align-technology-inc-algn-given-consensus-recommendation-of-buy-by-analysts.html.

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.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

Receive News & Ratings for Align Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.