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.

ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/11/align-technology-inc-algn-given-average-recommendation-of-buy-by-brokerages.html.

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.

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.