Align Technology, Inc. (ALGN) Given Average Rating of “Buy” by Brokerages
Shares of Align Technology, Inc. (NASDAQ:ALGN) have received a consensus recommendation of “Buy” from the eleven brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $188.33.
A number of brokerages recently commented on ALGN. Stifel Nicolaus restated a “buy” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Align Technology in a research report on Monday, August 7th. Robert W. Baird restated a “buy” rating on shares of Align Technology in a research report on Tuesday. Goldman Sachs Group, Inc. (The) raised their price objective on shares of Align Technology to $210.00 and gave the company a “buy” rating in a research report on Friday. Piper Jaffray Companies restated a “buy” rating and issued a $200.00 price objective on shares of Align Technology in a research report on Monday, September 11th. Finally, Bank of America Corporation upgraded shares of Align Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $175.00 to $193.00 in a research report on Friday, July 28th.
Align Technology (NASDAQ ALGN) opened at 184.50 on Friday. The company has a 50 day moving average price of $175.22 and a 200 day moving average price of $143.46. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 63.18 and a beta of 1.55. Align Technology has a 52 week low of $83.27 and a 52 week high of $186.10.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data 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 firm had revenue of $356.50 million during the quarter, compared to the consensus estimate of $343.43 million. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The firm’s revenue was up 32.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. Analysts expect that Align Technology will post $3.40 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the business. CENTRAL TRUST Co increased its holdings in Align Technology by 128.5% in the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock valued at $105,000 after buying an additional 392 shares in the last quarter. Schroder Investment Management Group purchased a new position in Align Technology in the second quarter valued at about $104,000. Bronfman E.L. Rothschild L.P. increased its holdings in Align Technology by 13.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after buying an additional 105 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in Align Technology in the second quarter valued at about $148,000. Finally, Trust Co. of Vermont increased its holdings in Align Technology by 15.4% in the second quarter. Trust Co. of Vermont now owns 1,010 shares of the medical equipment provider’s stock valued at $152,000 after buying an additional 135 shares in the last quarter. 81.72% of the stock is owned by institutional investors.
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Align Technology Company Profile
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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