Align Technology, Inc. (NASDAQ:ALGN) Given Average Rating of “Hold” by Analysts

Shares of Align Technology, Inc. (NASDAQ:ALGN) have earned an average rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $344.45.

ALGN has been the topic of several analyst reports. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. UBS Group boosted their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Stifel Nicolaus boosted their price objective on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. SVB Leerink assumed coverage on shares of Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd.

Insiders Place Their Bets

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the sale, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock worth $8,403,924 over the last three months. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Align Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legacy Trust grew its position in shares of Align Technology by 4.4% during the first quarter. Legacy Trust now owns 15,036 shares of the medical equipment provider’s stock worth $4,931,000 after buying an additional 629 shares in the last quarter. Summit Trail Advisors LLC grew its position in shares of Align Technology by 47.3% during the first quarter. Summit Trail Advisors LLC now owns 1,398 shares of the medical equipment provider’s stock worth $458,000 after buying an additional 449 shares in the last quarter. Raymond James & Associates grew its position in shares of Align Technology by 6.3% during the first quarter. Raymond James & Associates now owns 30,578 shares of the medical equipment provider’s stock worth $10,027,000 after buying an additional 1,811 shares in the last quarter. Marshall Financial Group LLC acquired a new position in shares of Align Technology during the first quarter worth about $210,000. Finally, First Trust Direct Indexing L.P. grew its position in shares of Align Technology by 43.4% during the first quarter. First Trust Direct Indexing L.P. now owns 2,010 shares of the medical equipment provider’s stock worth $659,000 after buying an additional 608 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Up 3.7 %

NASDAQ ALGN opened at $311.88 on Friday. Align Technology has a 52 week low of $176.34 and a 52 week high of $413.20. The business’s fifty day simple moving average is $313.14 and its 200-day simple moving average is $270.22. The firm has a market cap of $23.47 billion, a PE ratio of 53.59, a P/E/G ratio of 5.35 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The business had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Research analysts expect that Align Technology will post 7.69 EPS for the current year.

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.