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

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Shares of Align Technology, Inc. (NASDAQ:ALGN – Get Rating) earned a consensus rating of “Buy” from the thirteen research firms that currently cover the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts who updated their stock coverage in the last year is $590.70.

Several brokerages have recently weighed in on ALGN. UBS Group reduced its price target on Align Technology from $620.00 to $500.00 and set a “buy” rating for the company in a Tuesday, April 26 report. Credit Suisse Group reduced its price target on Align Technology from $722.00 to $418.00 in a Wednesday, May 4 research note. Piper Sandler reduced her price target on Align Technology from $600.00 to $440.00 in a Thursday, April 28 research note. Morgan Stanley cut its price target on Align Technology from $575.00 to $524.00 in a Thursday, April 28 research note. Finally, Robert W. Baird reduced his price target on Align Technology from $625.00 to $510.00 and set an “outperform” rating for the company in a Thursday, April 28 research note.

Separately, CEO Joseph M. Hogan purchased 6,700 shares of Align Technology in a trade that took place on Wednesday, May 4. The shares were purchased at an average cost of $298.48 per share, with a total value of $1,999,816.00. As a result of the transaction, the CEO now owns 174,801 shares of the company, valued at approximately $52,174,602.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Additionally, Director C Raymond Larkin, Jr. purchased 1,000 shares of Align Technology in a trade that took place on Friday, May 13. The shares were purchased at an average cost of $264.42 per share, for a total transaction of $264,420.00. Following completion of the transaction, the administrator now directly owns 18,190 shares of the company, valued at approximately $4,809,799.80. Disclosure of this purchase can be found here. 0.64% of the shares are held by insiders.

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Several institutional investors and hedge funds have recently changed their positions in ALGN. Harbor Investment Advisory LLC increased its equity stake in Align Technology by 200.0% in Q4. Harbor Investment Advisory LLC now owns 39 shares of the medical equipment supplier valued at $26,000 after acquiring 26 additional shares in the last quarter. Mizuho Securities Co.Ltd. bought a new stake in Align Technology stock in Q4, valued at around $39,000. NEXT Financial Group Inc increased its stake in Align Technology shares by 37.0% in the 4th quarter. NEXT Financial Group Inc now owns 74 shares of the medical equipment supplier worth $48,000 after acquiring 20 more shares in the last quarter. Trust Co. of Vermont bought a new stake in Align Technology stock in Q4, valued at around $49,000. Finally, Tsfg LLC increased its stake in Align Technology shares by 200.0% in the 1st quarter. Tsfg LLC now owns 75 shares of the medical equipment supplier valued at $33,000 after acquiring an additional 50 shares in the last quarter. 88.17% of the shares are currently held by institutional investors.

Shares of NASDAQ ALGN opened at $244.01 on Tuesday. The stock has a fifty-day moving average price of $319.17 and a 200-day moving average price of $453.65. Align Technology has a 1-year low of $242.67 and a 1-year high of $737.45. The company has a market capitalization of $19.23 billion, a PE ratio of 27.45, a P/E/G ratio of 3.95 and a beta of 1.77.

Align Technology (NASDAQ:ALGN – Get Rating) last released its quarterly results on Wednesday, April 27. The medical equipment supplier reported earnings per share of $1.70 for the quarter, missing the consensus estimate of $1.99 per ($0.29). Align Technology had a return on equity of 19.90% and a net margin of 17.51%. The company posted revenue of $973.22 million for the quarter, against analyst estimates of $1 billion. In the same period a year earlier, the company had earned earnings per share of $2.51. On average, research analysts expect Align Technology to post 9 EPS for the current year.

About Align Technology (Get an evaluation)

Align Technology, Inc, a medical device company, designs, manufactures and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general dentists, as well as restorative and cosmetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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