Align Technology, Inc. (NASDAQ:ALGN) Receives $198.08 Consensus Target Price from Brokerages

Align Technology, Inc. (NASDAQ:ALGN) has been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $198.0833.

Several equities analysts have recently weighed in on ALGN shares. Stifel Nicolaus increased their price target on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Jefferies Financial Group upped their price objective on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Morgan Stanley raised their target price on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. UBS Group boosted their price target on Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th.

Insiders Place Their Bets

In other news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Align Technology

A number of institutional investors have recently bought and sold shares of ALGN. Sentry Investment Management LLC increased its position in Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of Align Technology by 222.4% during the 4th quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 109 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in Align Technology in the 3rd quarter worth approximately $26,000. Rothschild Investment LLC increased its holdings in Align Technology by 140.3% in the 2nd 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. Finally, Independence Bank of Kentucky raised its stake in Align Technology by 77.7% during the 4th quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 80 shares during the period. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Down 1.6%

Shares of Align Technology stock opened at $177.33 on Friday. The business has a 50 day moving average of $177.25 and a 200 day moving average of $155.48. Align Technology has a 52 week low of $122.00 and a 52 week high of $208.30. The company has a market cap of $12.64 billion, a PE ratio of 31.33, a P/E/G ratio of 1.96 and a beta of 1.79.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 10.17% and a return on equity of 15.16%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 EPS. On average, research analysts anticipate that Align Technology will post 7.98 earnings per share for the current year.

About Align Technology

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.