Align Technology, Inc. (ALGN) Receives Average Rating of “Buy” from Analysts

Align Technology, Inc. (NASDAQ:ALGN) has been assigned an average rating of “Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $253.58.

Several analysts have issued reports on the company. Piper Jaffray Companies restated a “buy” rating and issued a $300.00 price objective on shares of Align Technology in a research note on Wednesday, January 31st. Credit Suisse Group upped their price objective on Align Technology from $276.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Stifel Nicolaus upped their price objective on Align Technology from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. BidaskClub lowered Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research lowered Align Technology from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st.

Shares of Align Technology (ALGN) opened at $233.13 on Tuesday. The stock has a market capitalization of $18,690.00, a P/E ratio of 82.38, a price-to-earnings-growth ratio of 1.75 and a beta of 1.48. Align Technology has a 52 week low of $95.17 and a 52 week high of $287.32.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.23. The firm had revenue of $421.30 million for the quarter, compared to analyst estimates of $395.88 million. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The business’s revenue for the quarter was up 43.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. equities analysts forecast that Align Technology will post 4.49 earnings per share for the current fiscal year.

In related news, VP Emory Wright sold 5,025 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the sale, the vice president now owns 80,762 shares of the company’s stock, valued at $21,295,324.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John Morici sold 1,500 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $255.00, for a total value of $382,500.00. Following the sale, the chief financial officer now directly owns 1,544 shares in the company, valued at approximately $393,720. The disclosure for this sale can be found here. Insiders sold 82,029 shares of company stock worth $21,369,243 in the last ninety days. 1.60% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. USA Mutuals Advisors Inc. acquired a new stake in Align Technology during the fourth quarter worth approximately $101,000. Whittier Trust Co. acquired a new stake in Align Technology during the third quarter worth approximately $107,000. Whittier Trust Co. of Nevada Inc. grew its position in Align Technology by 166.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the medical equipment provider’s stock worth $112,000 after buying an additional 315 shares in the last quarter. Meritage Portfolio Management acquired a new stake in Align Technology during the fourth quarter worth approximately $201,000. Finally, Dai Ichi Life Insurance Company Ltd acquired a new stake in Align Technology during the third quarter worth approximately $211,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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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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