Align Technology, Inc. (NASDAQ:ALGN) Stock Has Consensus Target Price of $201.71

Key Points

• Analysts maintain a Moderate Buy consensus on Align Technology, with eight buy ratings, seven holds, and one strong buy. The average 12-month price target is $201.71.
• Align’s shares opened at $140.65, down 2.1%, with a market capitalization of approximately $10.07 billion and a 52-week trading range of $124.91 to $200.43.
• The company slightly exceeded quarterly expectations, reporting $2.64 in adjusted EPS versus $2.62 expected and revenue of $1.06 billion versus $1.05 billion expected; revenue increased 4.3% year over year.

Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $201.71.

A number of brokerages have recently commented on ALGN. Wall Street Zen lowered shares of Align Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Raymond James Financial reissued a "buy" rating on shares of Align Technology in a research report on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a report on Thursday, July 30th. UBS Group reiterated a "neutral" rating and issued a $189.00 price objective on shares of Align Technology in a research report on Thursday, July 23rd. Finally, Evercore lowered Align Technology from an "outperform" rating to an "in-line" rating and set a $155.00 price objective on the stock. in a report on Monday.

Align Technology Trading Down 2.1%

Shares of ALGN stock opened at $140.65 on Tuesday. Align Technology has a 1 year low of $124.91 and a 1 year high of $200.43. The firm's fifty day simple moving average is $159.45 and its 200 day simple moving average is $169.18. The firm has a market capitalization of $10.07 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 1.53 and a beta of 1.67.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The business's revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.49 EPS. Equities research analysts anticipate that Align Technology will post 9.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Align Technology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in shares of Align Technology by 77.5% during the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider's stock worth $27,000 after acquiring an additional 69 shares during the period. Tobam bought a new stake in Align Technology in the fourth quarter valued at about $30,000. Hollencrest Capital Management bought a new stake in Align Technology in the first quarter valued at about $34,000. Osterweis Capital Management Inc. acquired a new position in Align Technology in the second quarter worth about $36,000. Finally, Global Retirement Partners LLC acquired a new position in Align Technology in the second quarter worth about $38,000. Institutional investors own 88.43% of the company's stock.

About Align Technology

Align Technology, Inc is a medical device and digital technology company that designs, manufactures and markets products used in orthodontics and restorative dentistry. The company is best known for Invisalign clear aligners, which are custom-made orthodontic devices intended to gradually move patients' teeth under the supervision of dental professionals.

Align also develops the iTero family of intraoral scanners and related digital imaging systems, which help dental professionals create digital impressions and treatment plans.

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