Align Technology, Inc. (NASDAQ:ALGN) Given Average Recommendation of “Hold” by Brokerages

Shares of Align Technology, Inc. (NASDAQ:ALGN) have been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $195.5833.

Several analysts recently issued reports on the company. Piper Sandler increased their price objective on Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Morgan Stanley lifted their price target on Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Robert W. Baird set a $218.00 price objective on Align Technology in a report on Thursday, February 5th. Leerink Partners raised their price target on shares of Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Barclays initiated coverage on Align Technology in a research report on Monday, December 8th. They issued an “equal weight” rating and a $170.00 price target for the company.

Align Technology Price Performance

NASDAQ:ALGN opened at $190.02 on Monday. The stock has a market cap of $13.63 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 2.08 and a beta of 1.84. The stock’s 50-day moving average is $169.74 and its two-hundred day moving average is $149.44. Align Technology has a fifty-two week low of $122.00 and a fifty-two week high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Align Technology will post 7.98 earnings per share for the current year.

Insider Activity

In related news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the transaction, the executive vice president directly owned 8,237 shares in the company, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Align Technology

A number of institutional investors have recently made changes to their positions in ALGN. Sentry Investment Management LLC grew its holdings in Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of Align Technology by 222.4% in the fourth quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 109 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Align Technology in the third quarter worth $26,000. Rothschild Investment LLC increased its position in Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 87 shares during the period. Finally, True Wealth Design LLC increased its position in Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 153 shares during the period. 88.43% of the stock is currently 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.