Align Technology, Inc. (NASDAQ:ALGN) Receives $271.40 Average Target Price from Analysts

Align Technology, Inc. (NASDAQ:ALGN) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $269.91.

Several research firms have weighed in on ALGN. Stifel Nicolaus lowered their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Mizuho began coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target on the stock. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Evercore ISI boosted their price target on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company began coverage on Align Technology in a research report on Friday. They set an “overweight” rating and a $255.00 price target on the stock.

Align Technology Stock Performance

Shares of Align Technology stock opened at $206.77 on Thursday. The business’s 50 day simple moving average is $218.77 and its 200 day simple moving average is $224.95. Align Technology has a 52-week low of $196.09 and a 52-week high of $335.40. The firm has a market cap of $15.44 billion, a PE ratio of 36.86, a P/E/G ratio of 4.79 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, equities research analysts predict that Align Technology will post 8.09 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Empirical Finance LLC boosted its stake in Align Technology by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after purchasing an additional 50 shares during the period. Covestor Ltd boosted its stake in Align Technology by 14.6% in the 4th quarter. Covestor Ltd now owns 415 shares of the medical equipment provider’s stock valued at $87,000 after purchasing an additional 53 shares during the period. Lake Street Advisors Group LLC boosted its stake in Align Technology by 5.6% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider’s stock valued at $265,000 after purchasing an additional 55 shares during the period. Picton Mahoney Asset Management boosted its stake in Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 58 shares during the period. Finally, Crestwood Advisors Group LLC boosted its stake in Align Technology by 6.6% in the 3rd quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider’s stock valued at $254,000 after purchasing an additional 62 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

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.