Align Technology, Inc. (NASDAQ:ALGN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Align Technology, Inc. (NASDAQ:ALGN) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $341.36.

ALGN has been the subject of several analyst reports. Stifel Nicolaus boosted their price objective on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. SVB Leerink began coverage on Align Technology in a research report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target for the company. Morgan Stanley raised their price target on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group upped their price objective on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Finally, Robert W. Baird raised their target price on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday.

Align Technology Stock Performance

ALGN stock opened at $310.50 on Friday. The stock’s fifty day moving average is $313.38 and its two-hundred day moving average is $270.80. The stock has a market capitalization of $23.37 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 5.59 and a beta of 1.65. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. As a group, analysts predict that Align Technology will post 7.69 EPS for the current fiscal year.

Insider Transactions at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the sale, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the transaction, the director now owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock valued at $8,403,924 in the last quarter. Insiders own 0.64% of the company’s stock.

Institutional Trading of Align Technology

A number of hedge funds have recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in shares of Align Technology during the first quarter valued at approximately $26,000. Huntington National Bank raised its stake in Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 56 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Align Technology by 47.2% in the first quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 60 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Align Technology in the third quarter worth $61,000. Finally, Orion Capital Management LLC purchased a new position in shares of Align Technology during the third quarter valued at $61,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.