Brokerages Set Align Technology, Inc. (NASDAQ:ALGN) PT at $262.64

Align Technology, Inc. (NASDAQ:ALGN) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $262.64.

Several equities analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective on the stock. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Evercore ISI increased their target price on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Bank of America lifted their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley cut their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th.

Align Technology Trading Down 0.5 %

Shares of NASDAQ ALGN opened at $153.51 on Friday. The business has a 50-day moving average of $186.45 and a 200-day moving average of $211.38. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.24 and a beta of 1.73. Align Technology has a 12 month low of $143.00 and a 12 month high of $331.64.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, analysts predict that Align Technology will post 7.98 earnings per share for the current year.

Hedge Funds Weigh In On Align Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in ALGN. 111 Capital purchased a new position in Align Technology during the 4th quarter valued at $319,000. NorthCrest Asset Manangement LLC grew its holdings in shares of Align Technology by 21.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,259 shares of the medical equipment provider’s stock worth $263,000 after acquiring an additional 225 shares during the period. Wealthedge Investment Advisors LLC bought a new position in shares of Align Technology in the 4th quarter worth approximately $367,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Align Technology in the 4th quarter valued at approximately $23,660,000. Finally, Azzad Asset Management Inc. ADV boosted its position in shares of Align Technology by 4.4% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 17,442 shares of the medical equipment provider’s stock valued at $3,637,000 after purchasing an additional 729 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

About Align Technology

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.