Align Technology’s (ALGN) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Align Technology (NASDAQ:ALGN) in a research report released on Thursday,Benzinga reports.

A number of other equities analysts have also weighed in on ALGN. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Hsbc Global Res lowered shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Piper Sandler reissued an “overweight” rating and issued a $235.00 target price (down previously from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Wells Fargo & Company began coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 target price for the company. Finally, Evercore ISI boosted their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $241.25.

Align Technology Trading Up 1.7 %

NASDAQ ALGN opened at $179.82 on Thursday. Align Technology has a 12 month low of $141.74 and a 12 month high of $291.80. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.24 and a beta of 1.73. The company’s 50 day moving average is $168.42 and its two-hundred day moving average is $201.01.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, April 30th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.00 by $0.13. The firm had revenue of $979.26 million for the quarter, compared to the consensus estimate of $977.90 million. Align Technology had a net margin of 10.54% and a return on equity of 13.84%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $2.14 EPS. Sell-side analysts forecast that Align Technology will post 7.98 EPS for the current year.

Institutional Investors Weigh In On Align Technology

Several large investors have recently added to or reduced their stakes in ALGN. Ninety One UK Ltd boosted its holdings in shares of Align Technology by 58.7% in the 1st quarter. Ninety One UK Ltd now owns 1,937,555 shares of the medical equipment provider’s stock worth $307,800,000 after purchasing an additional 716,954 shares during the period. Geode Capital Management LLC lifted its position in Align Technology by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,790,014 shares of the medical equipment provider’s stock worth $372,299,000 after buying an additional 39,209 shares during the last quarter. Invesco Ltd. boosted its stake in Align Technology by 17.1% during the fourth quarter. Invesco Ltd. now owns 1,082,162 shares of the medical equipment provider’s stock worth $225,642,000 after buying an additional 158,312 shares during the period. Norges Bank bought a new position in Align Technology during the fourth quarter valued at $190,792,000. Finally, Meridiem Investment Management Ltd. raised its stake in shares of Align Technology by 63.7% in the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock valued at $159,470,000 after acquiring an additional 297,472 shares during the period. 88.43% of the stock is owned by institutional investors.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.