Friday, October 7

Align Technology, Inc. (NASDAQ:ALGN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Align Technology, Inc. (NASDAQ:ALGN – Get Rating) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $361.67.

Several equities analysts have issued reports on ALGN shares. Stephens decreased their price target on shares of Align Technology from $500.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Credit Suisse Group decreased their price target on shares of Align Technology from $722.00 to $418.00 in a research report on Wednesday, May 4th. Stifel Nicolaus decreased their price objective on shares of Align Technology from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. Morgan Stanley decreased their price objective on shares of Align Technology from $438.00 to $402.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Finally, UBS Group decreased their price objective on shares of Align Technology from $380.00 to $370.00 and set a “buy” rating for the company in a research report on Friday, July 29th.

Institutional Inflows and Outflows

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Several institutional investors and hedge funds have recently bought and sold shares of ALGN. Steward Partners Investment Advisory LLC boosted its stake in Align Technology by 2.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,117 shares of the medical equipment provider’s stock worth $2,706,000 after acquiring an additional 108 shares in the last quarter. Brinker Capital Investments LLC lifted its stake in shares of Align Technology by 2.5% in the fourth quarter. Brinker Capital Investments LLC now owns 7,010 shares of the medical equipment provider’s stock valued at $4,607,000 after buying an additional 172 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Align Technology by 10.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 7,222 shares of the medical equipment provider’s stock valued at $4,746,000 after buying an additional 710 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of Align Technology by 6.0% in the fourth quarter. Natixis Advisors L.P. now owns 26,808 shares of the medical equipment provider’s stock valued at $17,618,000 after buying an additional 1,524 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its stake in shares of Align Technology by 8.2% in the fourth quarter. CENTRAL TRUST Co now owns 1,696 shares of the medical equipment provider’s stock valued at $1,115,000 after buying an additional 129 shares in the last quarter. 88.17% of the stock is owned by institutional investors.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $252.45 on Friday. Align Technology has a 52-week low of $225.86 and a 52-week high of $737.45. The firm has a 50 day moving average price of $263.90 and a two-hundred day moving average price of $336.53. The stock has a market cap of $19.72 billion, a P/E ratio of 32.28, a price-to-earnings-growth ratio of 7.88 and a beta of 1.78.

Align Technology (NASDAQ:ALGN – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.23). Align Technology had a net margin of 15.52% and a return on equity of 17.47%. The business had revenue of $969.60 million during the quarter, compared to analyst estimates of $986.05 million. During the same quarter last year, the company posted $2.51 earnings per share. The company’s revenue was down 3.0% compared to the same quarter last year. Analysts predict that Align Technology will post 7.69 earnings per share for the current fiscal year.

About Align Technology

(Get Rating)

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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