Align Technology (NASDAQ:ALGN) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Align Technology (NASDAQ:ALGN) in a research report report published on Friday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $255.00 target price on the medical equipment provider’s stock.

Other analysts also recently issued reports about the company. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. 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. Bank of America upped their price objective on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Morgan Stanley cut their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Mizuho assumed coverage on Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $269.91.

Align Technology Stock Performance

NASDAQ:ALGN opened at $206.77 on Friday. Align Technology has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The company has a market cap of $15.44 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 4.79 and a beta of 1.67. The stock has a fifty day moving average price of $218.77 and a 200-day moving average price of $224.91.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Research analysts predict that Align Technology will post 8.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Align Technology

A number of hedge funds have recently added to or reduced their stakes in the business. Empirical Finance LLC increased its holdings in Align Technology by 2.1% in the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock worth $632,000 after purchasing an additional 50 shares in the last quarter. Covestor Ltd increased its holdings in shares of Align Technology by 14.6% during the fourth quarter. Covestor Ltd now owns 415 shares of the medical equipment provider’s stock valued at $87,000 after acquiring an additional 53 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of Align Technology by 5.6% during the third quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider’s stock valued at $265,000 after acquiring an additional 55 shares in the last quarter. Picton Mahoney Asset Management increased its holdings in shares of Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 58 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its holdings in shares of Align Technology by 6.6% during the third quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider’s stock valued at $254,000 after acquiring an additional 62 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

About Align Technology

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.