Analysts Set Align Technology, Inc. (NASDAQ:ALGN) Price Target at $172.18

Align Technology, Inc. (NASDAQ:ALGN) has been assigned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $172.1818.

ALGN has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, October 30th. Wells Fargo & Company lowered their price objective on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Wall Street Zen raised Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Evercore ISI decreased their price target on Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Finally, Zacks Research raised Align Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th.

Institutional Trading of Align Technology

A number of institutional investors and hedge funds have recently bought and sold shares of ALGN. Czech National Bank raised its position in Align Technology by 3.3% in the second quarter. Czech National Bank now owns 16,654 shares of the medical equipment provider’s stock valued at $3,153,000 after purchasing an additional 537 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Align Technology in the 2nd quarter valued at approximately $306,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Align Technology during the 3rd quarter valued at $1,327,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Align Technology by 4.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,372 shares of the medical equipment provider’s stock worth $449,000 after purchasing an additional 102 shares during the last quarter. Finally, Navera Investment Management Ltd. lifted its holdings in Align Technology by 3.0% during the 2nd quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock worth $149,126,000 after buying an additional 23,080 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Stock Performance

Shares of Align Technology stock opened at $170.58 on Friday. The stock has a 50 day moving average of $150.90 and a 200 day moving average of $152.34. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 1.89 and a beta of 1.83. Align Technology has a fifty-two week low of $122.00 and a fifty-two week high of $237.23.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, beating the consensus estimate of $2.38 by $0.23. The business had revenue of $995.69 million for the quarter, compared to analyst estimates of $980.75 million. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.35 EPS. Analysts forecast that Align Technology will post 7.98 EPS for the current year.

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.