Align Technology, Inc. (NASDAQ:ALGN) has been assigned a consensus recommendation of “Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $237.64.

A number of equities research analysts have weighed in on ALGN shares. Robert W. Baird reissued a “buy” rating and issued a $245.00 price target on shares of Align Technology in a report on Friday, October 27th. Stifel Nicolaus upped their price target on shares of Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Northcoast Research reissued a “buy” rating and issued a $230.00 price target (up from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target for the company in a report on Monday, October 30th. Finally, Credit Suisse Group raised shares of Align Technology to a “buy” rating and set a $276.00 price target for the company in a report on Thursday, January 4th.

Shares of Align Technology (NASDAQ:ALGN) opened at $270.70 on Friday. Align Technology has a 1-year low of $88.56 and a 1-year high of $273.60. The firm has a market cap of $21,700.00, a PE ratio of 82.28, a price-to-earnings-growth ratio of 2.06 and a beta of 1.43.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The company had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. During the same period in the prior year, the company earned $0.63 EPS. Align Technology’s revenue was up 38.3% on a year-over-year basis. research analysts anticipate that Align Technology will post 3.67 EPS for the current year.

In other news, Director Joseph Lacob sold 29,724 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $260.91, for a total value of $7,755,288.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Emory Wright sold 5,025 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total value of $1,324,992.00. Following the completion of the transaction, the vice president now owns 80,762 shares in the company, valued at approximately $21,295,324.16. The disclosure for this sale can be found here. Insiders have sold 52,849 shares of company stock valued at $13,494,348 over the last ninety days. Insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. QS Investors LLC increased its holdings in shares of Align Technology by 4.7% in the 2nd quarter. QS Investors LLC now owns 2,729 shares of the medical equipment provider’s stock valued at $410,000 after purchasing an additional 123 shares during the period. Bayesian Capital Management LP increased its holdings in shares of Align Technology by 3.2% in the 2nd quarter. Bayesian Capital Management LP now owns 6,500 shares of the medical equipment provider’s stock valued at $976,000 after purchasing an additional 200 shares during the period. Global Financial Private Capital LLC increased its holdings in shares of Align Technology by 8.6% in the 2nd quarter. Global Financial Private Capital LLC now owns 2,605 shares of the medical equipment provider’s stock valued at $391,000 after purchasing an additional 206 shares during the period. CAPROCK Group Inc. increased its holdings in shares of Align Technology by 13.2% in the 4th quarter. CAPROCK Group Inc. now owns 1,834 shares of the medical equipment provider’s stock valued at $474,000 after purchasing an additional 214 shares during the period. Finally, YorkBridge Wealth Partners LLC increased its holdings in shares of Align Technology by 4.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 5,681 shares of the medical equipment provider’s stock valued at $847,000 after purchasing an additional 241 shares during the period. Institutional investors own 82.95% of the company’s stock.

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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)

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