Align Technology - ALGN Stock Forecast, Price & News

Align Technology, Inc., a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign comprehensive treatment that addresses the orthodontic needs of teenage 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 seven and ten years, which is a mixture of primary/baby and permanent teeth. This segment's non-comprehensive products comprise Invisalign moderate, lite and express packages, and Invisalign go; and non-case products include retention products, Invisalign training fees, and sales of ancillary products, such as cleaning material, and adjusting tools used by dental professionals during the course of treatment. The Scanners and Services segment offers iTero scanner, a single hardware platform with software options for restorative or orthodontic procedures; restorative software for general practitioner dentists, prosthodontists, periodontists, and oral surgeons; and software for orthodontists for digital records storage, orthodontic diagnosis, and for the fabrication of printed models and retainers. This segment also provides computer-aided design and computer-aided manufacturing services; ancillary products, such as disposable sleeves for the wand; iTero model and dies; third party scanners and digital scans; Invisalign outcome simulator, a chair-side and cloud-based application for the iTero scanner; Invisalign progress assessment tool; and TimeLapse technology, which allows doctors or practitioners to compare a patient's historic 3D scans to the present-day scan. The company sells its products in the United States, Switzerland, China, and internationally. Align Technology, Inc. was incorporated in 1997 and is headquartered in Tempe, Arizona.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Align Technology from $440.00 to $370.00 and set an "overweight" rating for the company in a research report on Friday, July 22nd. Stifel Nicolaus decreased their price objective on shares of Align Technology from $425.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, July 14th. Morgan Stanley reduced their price objective on Align Technology from $438.00 to $402.00 and set an "overweight" rating on the stock in a research note on Thursday, July 28th. Evercore ISI dropped their price target on Align Technology from $310.00 to $285.00 in a research report on Thursday, July 28th. Finally, Credit Suisse Group reduced their target price on shares of Align Technology from $722.00 to $418.00 in a research note on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $361.67.

Align Technology Stock Up 5.2 %

Shares of ALGN traded up $14.17 during midday trading on Wednesday, reaching $287.81. 716,124 shares of the stock were exchanged, compared to its average volume of 999,309. The company has a market cap of $22.48 billion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 8.35 and a beta of 1.78. Align Technology has a 12-month low of $225.86 and a 12-month high of $737.45. The firm has a 50 day simple moving average of $259.60 and a 200-day simple moving average of $356.25.

Align Technology (NASDAQ:ALGN - Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The medical equipment provider reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.23). The business had revenue of $969.60 million for the quarter, compared to the consensus estimate of $986.05 million. Align Technology had a net margin of 15.52% and a return on equity of 17.47%. Align Technology's revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.51 EPS. Research analysts expect that Align Technology will post 8.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director C Raymond Larkin, Jr. bought 1,000 shares of the business's stock in a transaction on Friday, May 13th. The shares were bought at an average cost of $264.42 per share, for a total transaction of $264,420.00. Following the completion of the acquisition, the director now directly owns 18,190 shares in the company, valued at $4,809,799.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.64% of the stock is currently owned by corporate insiders.