Align Technology (ALGN) – Investment Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Align Technology (NASDAQ: ALGN):

  • 1/6/2019 – Align Technology had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $275.00 price target on the stock.
  • 1/4/2019 – Align Technology had its price target lowered by analysts at Morgan Stanley from $300.00 to $210.00. They now have an “equal weight” rating on the stock.
  • 1/2/2019 – Align Technology had its price target lowered by analysts at Robert W. Baird from $330.00 to $255.00. They now have an “outperform” rating on the stock.
  • 1/2/2019 – Align Technology was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 12/31/2018 – Align Technology was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Over the past year, Align Technology has been underperforming its industry. We are concerned about a drop in average selling prices on a sequential basis due to promotional programs, adverse currency movements and product mix. Moreover, there was sequential softness in the Europe, Middle East and Africa (EMEA) region sales due to seasonality in the last reported quarter.  Adverse foreign currency fluctuation is a concern for the company. Tough competition, rising operating costs and macroeconomic issues continue to weigh on the stock. However, the company continues to see strength in Invisalign volumes. Align Technology is optimistic about Invisalign Technology prospects and growth in North America and outside, particularly in the Asia-Pacific and EMEA regions. The company is also witnessing strong uptake of iTero scanners across all geographies.”
  • 12/26/2018 – Align Technology was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 11/20/2018 – Align Technology had its price target lowered by analysts at Credit Suisse Group AG from $375.00 to $343.00. They now have an “outperform” rating on the stock.
  • 11/19/2018 – Align Technology had its “outperform” rating reaffirmed by analysts at William Blair.

Align Technology stock opened at $198.25 on Monday. Align Technology, Inc. has a 1 year low of $177.93 and a 1 year high of $398.88. The stock has a market capitalization of $16.02 billion, a PE ratio of 50.96, a price-to-earnings-growth ratio of 1.45 and a beta of 1.91.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.05. The firm had revenue of $505.30 million for the quarter, compared to the consensus estimate of $503.14 million. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. Align Technology’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. On average, research analysts anticipate that Align Technology, Inc. will post 4.87 earnings per share for the current year.

In related news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $231.82, for a total value of $2,318,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Sreelakshmi Kolli sold 5,000 shares of Align Technology stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $223.15, for a total transaction of $1,115,750.00. Following the completion of the sale, the senior vice president now owns 27,180 shares in the company, valued at $6,065,217. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,764 shares of company stock worth $5,427,059. 1.40% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Align Technology by 2.2% in the 3rd quarter. BlackRock Inc. now owns 5,264,644 shares of the medical equipment provider’s stock worth $2,059,633,000 after purchasing an additional 113,728 shares during the last quarter. FMR LLC grew its stake in shares of Align Technology by 6.2% in the 3rd quarter. FMR LLC now owns 1,811,522 shares of the medical equipment provider’s stock worth $708,704,000 after purchasing an additional 106,012 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Align Technology by 1.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 938,023 shares of the medical equipment provider’s stock worth $366,973,000 after purchasing an additional 9,958 shares during the last quarter. Winslow Capital Management LLC increased its position in shares of Align Technology by 30.2% in the third quarter. Winslow Capital Management LLC now owns 564,651 shares of the medical equipment provider’s stock worth $220,903,000 after acquiring an additional 130,982 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Align Technology by 22.7% in the third quarter. TIAA CREF Investment Management LLC now owns 480,391 shares of the medical equipment provider’s stock worth $187,939,000 after acquiring an additional 88,731 shares in the last quarter. Hedge funds and other institutional investors own 77.80% of the company’s stock.

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

Featured Story: What strategies should day traders use to execute a trade?

Receive News & Ratings for Align Technology Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply