Align Technology, Inc. (NASDAQ:ALGN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $241.25.

A number of research firms recently commented on ALGN. Morgan Stanley dropped their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Piper Sandler reaffirmed an "overweight" rating and set a $250.00 price target (up previously from $235.00) on shares of Align Technology in a report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research note on Thursday. Leerink Partners upgraded Align Technology from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their price target on Align Technology from $255.00 to $246.00 and set an "overweight" rating on the stock in a research note on Thursday.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALGN. Victory Capital Management Inc. grew its holdings in Align Technology by 98.1% during the 1st quarter. Victory Capital Management Inc. now owns 323,158 shares of the medical equipment provider's stock worth $51,337,000 after acquiring an additional 160,056 shares during the last quarter. PAX Financial Group LLC grew its stake in shares of Align Technology by 4.5% in the first quarter. PAX Financial Group LLC now owns 3,614 shares of the medical equipment provider's stock worth $574,000 after purchasing an additional 156 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Align Technology by 40.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 811 shares of the medical equipment provider's stock worth $129,000 after purchasing an additional 233 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Align Technology during the 1st quarter worth about $17,344,000. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in shares of Align Technology in the 1st quarter valued at about $267,000. Institutional investors own 88.43% of the company's stock.

Align Technology Trading Up 1.7 %

NASDAQ ALGN traded up $3.08 during trading on Tuesday, reaching $179.82. The company's stock had a trading volume of 1,386,806 shares, compared to its average volume of 902,888. Align Technology has a 12 month low of $141.74 and a 12 month high of $295.69. The firm has a 50 day moving average price of $168.56 and a 200 day moving average price of $201.39. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.00 by $0.13. The business had revenue of $979.26 million for the quarter, compared to the consensus estimate of $977.90 million. Align Technology had a return on equity of 13.84% and a net margin of 10.54%. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.14 earnings per share. On average, equities analysts forecast that Align Technology will post 7.98 EPS 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.