Analysts Set Align Technology, Inc. (NASDAQ:ALGN) PT at $262.64

Shares of Align Technology, Inc. (NASDAQ:ALGN) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $262.64.

Several research firms have recently issued reports on ALGN. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley lowered their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Mizuho reduced their target price on shares of Align Technology from $295.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. Jefferies Financial Group dropped their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th.

Institutional Investors Weigh In On Align Technology

A number of institutional investors have recently modified their holdings of ALGN. Picton Mahoney Asset Management raised 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 worth $30,000 after acquiring an additional 58 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of Align Technology during the 4th quarter worth about $31,000. Neo Ivy Capital Management acquired a new stake in shares of Align Technology during the 3rd quarter valued at about $32,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Align Technology during the 4th quarter valued at about $35,000. Finally, Private Trust Co. NA grew its stake in shares of Align Technology by 113.4% in the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN stock opened at $144.32 on Friday. Align Technology has a 12 month low of $141.74 and a 12 month high of $331.64. The firm’s 50-day moving average is $181.68 and its 200 day moving average is $209.43. The company has a market capitalization of $10.57 billion, a PE ratio of 25.73, a P/E/G ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Sell-side analysts forecast that Align Technology will post 7.98 EPS for the current fiscal year.

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.