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

Shares of Align Technology, Inc. (NASDAQ:ALGN) have earned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $176.8182.

Several research analysts have issued reports on ALGN shares. Wells Fargo & Company reduced their price objective on Align Technology from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Barclays started coverage on Align Technology in a report on Monday, December 8th. They issued an “equal weight” rating and a $170.00 price target on the stock. UBS Group lowered their price objective on Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Finally, Evercore ISI cut their target price on shares of Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th.

Align Technology Stock Down 1.3%

Shares of NASDAQ:ALGN opened at $164.92 on Thursday. The firm has a market cap of $11.83 billion, a P/E ratio of 31.96, a P/E/G ratio of 1.87 and a beta of 1.83. Align Technology has a 12 month low of $122.00 and a 12 month high of $232.20. The company’s 50-day moving average price is $159.98 and its two-hundred day moving average price is $149.68.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company had revenue of $995.69 million for the quarter, compared to analyst estimates of $980.75 million. During the same period in the prior year, the business earned $2.35 earnings per share. Align Technology’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Align Technology will post 7.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Align Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC lifted its stake in shares of Align Technology by 16.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,681 shares of the medical equipment provider’s stock valued at $452,000 after purchasing an additional 377 shares during the period. waypoint wealth counsel bought a new stake in Align Technology in the fourth quarter valued at about $259,000. B. Metzler seel. Sohn & Co. AG lifted its stake in Align Technology by 96.6% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 3,380 shares of the medical equipment provider’s stock valued at $528,000 after buying an additional 1,661 shares during the period. HB Wealth Management LLC lifted its stake in Align Technology by 24.9% in the fourth quarter. HB Wealth Management LLC now owns 7,453 shares of the medical equipment provider’s stock valued at $1,164,000 after buying an additional 1,484 shares during the period. Finally, Applied Fundamental Research LLC boosted its holdings in Align Technology by 4.5% during the fourth quarter. Applied Fundamental Research LLC now owns 58,419 shares of the medical equipment provider’s stock worth $9,122,000 after buying an additional 2,525 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.