Align Technology, Inc. (NASDAQ:ALGN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts rate Align with an average of "Moderate Buy" across 14 firms (7 hold, 7 buy), and the mean 12‑month price target is about $198.08.
• Align beat the latest quarter expectations with $3.29 EPS vs. $2.99 estimated and $1.05B in revenue (vs. $1.03B), with revenue up 5.3% year‑over‑year and a net margin of 10.17%.
• EVP John Morici sold 7,969 shares at roughly $189.31 (a 49.17% cut to his stake); corporate insiders now own 0.66% of the company.

Shares of Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) have received an average rating of "Moderate Buy" from the fourteen ratings firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $198.0833.

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Align Technology from $181.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Evercore reissued an "outperform" rating on shares of Align Technology in a report on Wednesday, April 8th. Morgan Stanley increased their price target on shares of Align Technology from $154.00 to $169.00 and gave the company an "equal weight" rating in a report on Thursday, February 5th. Leerink Partners increased 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, Mizuho increased their price target on shares of Align Technology from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, February 5th.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the transaction, the executive vice president directly owned 8,237 shares of the company's stock, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. increased its holdings in shares of Align Technology by 108.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,884 shares of the medical equipment provider's stock worth $1,075,000 after purchasing an additional 3,579 shares during the period. Tobam bought a new position in shares of Align Technology during the fourth quarter worth approximately $30,000. Sunbelt Securities Inc. increased its holdings in shares of Align Technology by 222.4% during the fourth quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 109 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in shares of Align Technology by 37.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,905 shares of the medical equipment provider's stock worth $1,078,000 after purchasing an additional 1,867 shares during the period. Finally, Compound Planning Inc. bought a new position in shares of Align Technology during the fourth quarter worth approximately $228,000. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Performance

Shares of ALGN stock opened at $180.67 on Tuesday. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 1.89 and a beta of 1.81. Align Technology has a 52-week low of $122.00 and a 52-week high of $208.30. The firm's 50-day moving average is $178.36 and its 200-day moving average is $159.22.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. Sell-side analysts predict that Align Technology will post 7.98 EPS for the current fiscal year.

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.

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