Align Technology’s (ALGN) “Buy” Rating Reaffirmed at Robert W. Baird
ALGN has been the topic of several other reports. Bank of America Corporation raised shares of Align Technology from a neutral rating to a buy rating and upped their target price for the stock from $175.00 to $193.00 in a research note on Friday, July 28th. Stifel Nicolaus reaffirmed a buy rating and set a $205.00 target price (up from $200.00) on shares of Align Technology in a research note on Monday, August 7th. Piper Jaffray Companies reaffirmed a buy rating and set a $200.00 target price on shares of Align Technology in a research note on Monday, September 11th. Credit Suisse Group reaffirmed an outperform rating and set a $170.00 target price (up from $140.00) on shares of Align Technology in a research note on Thursday, July 13th. Finally, Zacks Investment Research downgraded shares of Align Technology from a strong-buy rating to a hold rating in a research note on Monday, August 21st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $179.82.
Shares of Align Technology (NASDAQ ALGN) traded down 0.19% during trading on Tuesday, reaching $184.50. 1,862,314 shares of the company traded hands. The firm’s 50 day moving average price is $175.22 and its 200-day moving average price is $143.46. The company has a market capitalization of $14.79 billion, a price-to-earnings ratio of 63.18 and a beta of 1.55. Align Technology has a 52 week low of $83.27 and a 52 week high of $186.10.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The firm had revenue of $356.50 million for the quarter, compared to analyst estimates of $343.43 million. During the same period in the prior year, the business posted $0.62 EPS. The business’s revenue for the quarter was up 32.3% compared to the same quarter last year. Equities analysts anticipate that Align Technology will post $3.40 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in ALGN. Schroder Investment Management Group purchased a new stake in shares of Align Technology in the 2nd quarter valued at approximately $104,000. CENTRAL TRUST Co increased its position in shares of Align Technology by 128.5% in the 2nd quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock valued at $105,000 after purchasing an additional 392 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Align Technology by 6.9% in the 1st quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock valued at $121,000 after purchasing an additional 68 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Align Technology by 13.0% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after purchasing an additional 105 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Align Technology in the 2nd quarter valued at approximately $148,000. 81.72% of the stock is currently owned by institutional investors.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.