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

Align Technology, Inc. (NASDAQ:ALGN) has been given an average rating of “Hold” by the ten analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $276.38.

Several equities research analysts have weighed in on ALGN shares. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Robert W. Baird dropped their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Evercore ISI decreased their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Piper Sandler dropped their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus reduced their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th.

Insider Buying and Selling

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of Align Technology stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the purchase, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mather Group LLC. raised its position in shares of Align Technology by 52.5% during the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 42 shares during the period. Quarry LP raised its holdings in Align Technology by 53.0% during the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 44 shares during the last quarter. Crewe Advisors LLC raised its holdings in shares of Align Technology by 36.8% in the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 46 shares during the last quarter. Empirical Finance LLC lifted its position in shares of Align Technology by 2.1% during the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after purchasing an additional 50 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Align Technology by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock worth $2,143,000 after purchasing an additional 54 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Down 0.8 %

Shares of Align Technology stock opened at $220.51 on Tuesday. The stock has a market capitalization of $16.46 billion, a price-to-earnings ratio of 37.63, a price-to-earnings-growth ratio of 5.82 and a beta of 1.65. Align Technology has a twelve month low of $186.01 and a twelve month high of $335.40. The company has a 50-day simple moving average of $229.43 and a two-hundred day simple moving average of $243.32.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. The company had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. Align Technology’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 EPS. On average, sell-side analysts anticipate that Align Technology will post 7.45 earnings per share for the current fiscal year.

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.