Piper Jaffray Companies restated their buy rating on shares of Align Technology, Inc. (NASDAQ:ALGN) in a research note issued to investors on Monday morning. They currently have a $200.00 target price on the medical equipment provider’s stock.

A number of other analysts also recently weighed in on ALGN. Jefferies Group LLC reiterated a buy rating and set a $150.00 price target on shares of Align Technology in a report on Thursday, June 1st. Morgan Stanley reissued an overweight rating and set a $175.00 price objective on shares of Align Technology in a research report on Monday, June 19th. They noted that the move was a valuation call. Northcoast Research reissued a buy rating and set a $186.00 price objective (up previously from $164.00) on shares of Align Technology in a research report on Wednesday, June 21st. Stifel Nicolaus reissued a buy rating and set a $200.00 price objective (up previously from $145.00) on shares of Align Technology in a research report on Friday, June 23rd. Finally, Leerink Swann increased their price objective on shares of Align Technology from $149.00 to $194.00 and gave the stock an outperform rating in a research report on Monday, June 26th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Align Technology currently has an average rating of Buy and an average price target of $176.80.

Align Technology (NASDAQ:ALGN) opened at 183.57 on Monday. Align Technology has a 12-month low of $83.27 and a 12-month high of $186.10. The company has a market capitalization of $14.71 billion, a price-to-earnings ratio of 62.87 and a beta of 1.55. The firm’s 50-day moving average price is $172.98 and its 200 day moving average price is $142.27.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The business had revenue of $356.50 million during the quarter, compared to the consensus estimate of $343.43 million. During the same period in the prior year, the business posted $0.62 earnings per share. Align Technology’s quarterly revenue was up 32.3% on a year-over-year basis. On average, analysts expect that Align Technology will post $3.40 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Navellier & Associates Inc lifted its position in Align Technology by 4.5% in the 2nd quarter. Navellier & Associates Inc now owns 68,761 shares of the medical equipment provider’s stock valued at $10,322,000 after acquiring an additional 2,963 shares in the last quarter. Sentry Investment Management LLC bought a new position in Align Technology in the 2nd quarter valued at about $882,000. Ashford Capital Management Inc. lifted its position in Align Technology by 46.9% in the 2nd quarter. Ashford Capital Management Inc. now owns 6,941 shares of the medical equipment provider’s stock valued at $1,042,000 after acquiring an additional 2,216 shares in the last quarter. Toronto Dominion Bank lifted its position in Align Technology by 3,163.1% in the 2nd quarter. Toronto Dominion Bank now owns 25,583 shares of the medical equipment provider’s stock valued at $3,840,000 after acquiring an additional 24,799 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in Align Technology in the 2nd quarter valued at about $470,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Company Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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