Align Technology, Inc. (ALGN) Given Average Recommendation of “Buy” by Brokerages
Shares of Align Technology, Inc. (NASDAQ:ALGN) have been given an average recommendation of “Buy” by the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $197.44.
A number of brokerages recently commented on ALGN. Stifel Nicolaus reaffirmed a “buy” rating and set a $205.00 price objective (up from $200.00) on shares of Align Technology in a research note on Monday, August 7th. Northcoast Research reaffirmed a “buy” rating and set a $230.00 price objective (up from $200.00) on shares of Align Technology in a research note on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 price objective (up from $195.00) on shares of Align Technology in a research note on Friday, October 6th. Goldman Sachs Group, Inc. (The) lifted their price objective on Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Finally, Bank of America Corporation raised Align Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $175.00 to $193.00 in a research note on Friday, July 28th.
Align Technology (ALGN) opened at 188.67 on Wednesday. The company has a 50 day moving average price of $182.35 and a 200-day moving average price of $153.70. The firm has a market cap of $15.12 billion, a price-to-earnings ratio of 64.61 and a beta of 1.54. Align Technology has a 52-week low of $83.27 and a 52-week high of $191.78.
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, topping analysts’ consensus estimates of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The business had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $343.43 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. Equities research analysts anticipate that Align Technology will post $3.41 EPS for the current year.
A number of large investors have recently bought and sold shares of ALGN. UBS Asset Management Americas Inc. grew its stake in Align Technology by 40.5% in the first quarter. UBS Asset Management Americas Inc. now owns 182,595 shares of the medical equipment provider’s stock valued at $20,945,000 after acquiring an additional 52,601 shares during the period. Neuberger Berman Group LLC grew its stake in Align Technology by 11.7% in the first quarter. Neuberger Berman Group LLC now owns 4,538 shares of the medical equipment provider’s stock valued at $521,000 after acquiring an additional 474 shares during the period. BB&T Securities LLC acquired a new position in Align Technology in the first quarter valued at about $305,000. Van ECK Associates Corp grew its stake in Align Technology by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock valued at $121,000 after acquiring an additional 68 shares during the period. Finally, Teachers Advisors LLC grew its stake in Align Technology by 4.9% in the first quarter. Teachers Advisors LLC now owns 70,197 shares of the medical equipment provider’s stock valued at $8,052,000 after acquiring an additional 3,298 shares during the period. 81.56% of the stock is owned by hedge funds and other 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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