Align Technology, Inc. (NASDAQ:ALGN) has been given a consensus recommendation of “Hold” by the sixteen research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $253.58.

ALGN has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on Align Technology from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Stephens restated a “hold” rating and set a $220.00 price objective on shares of Align Technology in a research note on Tuesday, November 19th. BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Barclays cut their target price on Align Technology from $300.00 to $272.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Finally, Bank of America raised their target price on Align Technology from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th.

ALGN traded down $3.00 during trading hours on Monday, hitting $274.34. 615,676 shares of the stock were exchanged, compared to its average volume of 1,238,681. The stock has a 50-day simple moving average of $251.84 and a 200-day simple moving average of $239.50. Align Technology has a 12 month low of $169.84 and a 12 month high of $334.64. The stock has a market cap of $21.86 billion, a price-to-earnings ratio of 55.76, a price-to-earnings-growth ratio of 2.43 and a beta of 2.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.62.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.14. Align Technology had a return on equity of 28.76% and a net margin of 18.28%. The firm had revenue of $607.30 million for the quarter, compared to analysts’ expectations of $595.29 million. During the same period last year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Sell-side analysts expect that Align Technology will post 5.17 EPS for the current year.

In other news, SVP Julie Tay sold 2,739 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $280.01, for a total transaction of $766,947.39. Following the transaction, the senior vice president now directly owns 11,366 shares of the company’s stock, valued at $3,182,593.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yuval Shaked sold 800 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $268.61, for a total value of $214,888.00. Following the transaction, the director now directly owns 41 shares in the company, valued at $11,013.01. The disclosure for this sale can be found here. Insiders sold 26,199 shares of company stock worth $6,787,761 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Squar Milner Financial Services LLC increased its holdings in shares of Align Technology by 115.4% during the third quarter. Squar Milner Financial Services LLC now owns 168 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Ossiam acquired a new position in Align Technology during the second quarter worth about $43,000. TRUE Private Wealth Advisors acquired a new position in Align Technology during the second quarter worth about $45,000. CSat Investment Advisory L.P. grew its holdings in Align Technology by 218.7% during the second quarter. CSat Investment Advisory L.P. now owns 239 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 164 shares during the period. Finally, FTB Advisors Inc. grew its holdings in Align Technology by 102.9% during the second quarter. FTB Advisors Inc. now owns 278 shares of the medical equipment provider’s stock worth $76,000 after acquiring an additional 141 shares during the period. 82.00% of the stock is currently owned by institutional investors.

About Align Technology

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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