Align Technology, Inc. (NASDAQ:ALGN – Get Rating) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $535.25.
A number of analysts have recently commented on the company. Morgan Stanley dropped their price objective on Align Technology from $524.00 to $479.00 and set an “overweight” rating for the company in a report on Wednesday, June 15th. Piper Sandler lowered their price target on Align Technology from $600.00 to $440.00 in a report on Thursday, April 28th. Robert W. Baird lowered their price target on Align Technology from $625.00 to $510.00 and set an “outperform” rating for the company in a report on Thursday, April 28th. TheStreet downgraded Align Technology from a “b-” rating to a “c+” rating in a report on Monday, April 25th. Finally, UBS Group lowered their price target on Align Technology from $620.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, April 26th.
Shares of ALGN opened at $261.52 on Friday. The company has a market capitalization of $20.61 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 3.99 and a beta of 1.77. The stock has a fifty day moving average of $263.45 and a two-hundred day moving average of $405.44. Align Technology has a fifty-two week low of $225.86 and a fifty-two week high of $737.45.
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Align Technology (NASDAQ:ALGN – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The medical equipment provider reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.29). The firm had revenue of $973.22 million for the quarter, compared to analyst estimates of $1 billion. Align Technology had a return on equity of 19.90% and a net margin of 17.51%. During the same quarter in the previous year, the company earned $2.51 earnings per share. As a group, research analysts anticipate that Align Technology will post 9 earnings per share for the current year.
In other Align Technology news, Director C Raymond Larkin, Jr. bought 1,000 shares of Align Technology stock in a transaction that occurred on Friday, May 13th. The stock was purchased 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 owns 18,190 shares of the company’s stock, valued at approximately $4,809,799.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph M. Hogan acquired 6,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was purchased at an average cost of $298.48 per share, with a total value of $1,999,816.00. Following the purchase, the chief executive officer now directly owns 174,801 shares in the company, valued at approximately $52,174,602.48. The disclosure for this purchase can be found here. 0.64% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ALGN. J.W. Cole Advisors Inc. bought a new position in Align Technology in the 1st quarter worth $29,000. Tsfg LLC grew its position in Align Technology by 200.0% in the 1st quarter. Tsfg LLC now owns 75 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Align Technology in the 4th quarter worth $39,000. Massmutual Trust Co. FSB ADV grew its position in Align Technology by 60.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 176 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 66 shares during the last quarter. Finally, Gradient Investments LLC grew its position in Align Technology by 1,428.6% in the 1st quarter. Gradient Investments LLC now owns 107 shares of the medical equipment provider’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 88.17% of the company’s stock.
Align Technology Company Profile (Get Rating)
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.
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