Align Technology (NASDAQ:ALGN) Raised to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Align Technology from "buy" to strong-buy, and several analysts raised price targets (e.g., Leerink to $225, Mizuho to $215), but MarketBeat's consensus remains a "Hold" with an average price target of $198.08.
• Align beat estimates for the latest quarter with $3.29 EPS vs. $2.99 expected and $1.05 billion in revenue (up 5.3% year-over-year); the company has a $12.4 billion market cap and a P/E of about 30.7.
• EVP John Morici sold 7,969 shares at an average $189.31 (insiders own 0.66% of the stock), while institutional/hedge fund ownership is very high at 88.43%.

Align Technology (NASDAQ:ALGN - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

A number of other research analysts have also commented on ALGN. Mizuho raised their price objective on shares of Align Technology from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, February 5th. Wells Fargo & Company upped their target price on Align Technology from $181.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, February 5th. Weiss Ratings raised Align Technology from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, January 16th. Leerink Partners lifted their price target on Align Technology from $210.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Finally, Morgan Stanley boosted their price objective on Align Technology from $154.00 to $169.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $198.08.

Align Technology Price Performance

Shares of ALGN opened at $174.00 on Friday. Align Technology has a 12 month low of $122.00 and a 12 month high of $208.30. The company has a market cap of $12.40 billion, a P/E ratio of 30.74, a PEG ratio of 1.92 and a beta of 1.79. The stock has a fifty day moving average price of $174.64 and a 200 day moving average price of $152.28.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS 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 return on equity of 15.16% and a net margin of 10.17%.The firm's revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $2.44 EPS. As a group, research analysts anticipate that Align Technology will post 7.98 earnings per share for the current year.

Insider Activity at Align Technology

In related news, EVP John Morici sold 7,969 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares in the company, valued at $1,559,346.47. This trade represents a 49.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Institutional Trading of Align Technology

A number of hedge funds have recently bought and sold shares of ALGN. Rothschild Investment LLC increased its position in shares of Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 87 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Align Technology by 7,650.0% in the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 153 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in Align Technology by 222.4% in the 4th 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. Independence Bank of Kentucky boosted its stake in Align Technology by 77.7% in the 4th quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 80 shares during the period. Finally, Sentry Investment Management LLC grew its position in Align Technology by 73.1% during the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 79 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

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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