Align Technology (NASDAQ:ALGN) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Align Technology (NASDAQ:ALGN) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Other equities research analysts also recently issued research reports about the stock. UBS Group lifted their price target on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Robert W. Baird set a $218.00 price objective on shares of Align Technology in a research report on Thursday, February 5th. Barclays raised their target price on Align Technology from $170.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Wells Fargo & Company boosted their price target on Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, Morgan Stanley boosted their price target on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Align Technology currently has an average rating of “Hold” and a consensus target price of $198.08.

Align Technology Stock Down 0.9%

NASDAQ ALGN opened at $174.00 on Friday. Align Technology has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The business has a 50 day moving average price of $174.64 and a two-hundred day moving average price of $152.34. The stock has a market cap of $12.40 billion, a PE ratio of 30.74, a P/E/G ratio of 1.91 and a beta of 1.79.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $2.44 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Align Technology will post 7.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Align Technology news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at $1,559,346.47. This trade represents a 49.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Align Technology

A number of institutional investors have recently modified their holdings of ALGN. Tobam acquired a new position in Align Technology in the fourth quarter worth about $30,000. Sunbelt Securities Inc. increased its holdings in Align Technology by 222.4% in the fourth quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 109 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in Align Technology by 37.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,905 shares of the medical equipment provider’s stock valued at $1,078,000 after buying an additional 1,867 shares in the last quarter. Compound Planning Inc. bought a new position in Align Technology during the 4th quarter worth approximately $228,000. Finally, Corient Private Wealth LLC lifted its holdings in Align Technology by 1.3% during the 4th quarter. Corient Private Wealth LLC now owns 15,473 shares of the medical equipment provider’s stock worth $2,246,000 after buying an additional 192 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.