Align Technology (ALGN) – Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Align Technology (NASDAQ: ALGN):

  • 11/11/2019 – Align Technology was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 11/4/2019 – Align Technology was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/25/2019 – Align Technology was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/25/2019 – Align Technology was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $262.00 price target on the stock. According to Zacks, “Align Technology exited the third quarter of 2019 with better-than-expected results. We are upbeat about the continued momentum in Invisalign volumes across all geographies. We are particularly encouraged by the solid worldwide Invisalign volume growth for teenage patient cases. We are impressed with the robust performance by Invisalign Go and Invisalign First during the quarter. Strong revenue growth from iTero scanners and services is also encouraging. On the flip side, Invisalign volumes in EMEA and iTero revenues declined sequentially in the reported quarter. Escalating expenses continue to build pressure on margins. Overall, the company has underperformed its industry in the past six months.”
  • 10/24/2019 – Align Technology had its price target raised by analysts at Bank of America Corp from $220.00 to $240.00. They now have a “neutral” rating on the stock.
  • 10/21/2019 – Align Technology was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/17/2019 – Align Technology was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/15/2019 – Align Technology was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 10/7/2019 – Align Technology had its price target lowered by analysts at Barclays PLC from $300.00 to $272.00. They now have an “overweight” rating on the stock.
  • 10/7/2019 – Align Technology was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating. They now have a $200.00 price target on the stock, down previously from $250.00.
  • 10/2/2019 – Align Technology was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 9/25/2019 – Align Technology was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. They now have a $192.00 price target on the stock. According to Zacks, “Align Technology's continued momentum in Invisalign volumes across all geographies and solid worldwide volume growth for teenage patient cases buoy optimism. Solid performance in the EMEA region and APAC markets is a plus. However, despite registering a strong quarterly show, the company has underperformed its industry over the past three months. The company disappointed us in terms of registering poor Invisalign case shipment in China, which dragged the entire case shipment down in the second quarter of 2019. This apart, there was slower growth in young adult cases in North America. Looking at the third quarter guidance, we expect this lackluster trend to continue through this period as well. Contraction of gross and operating margins were other downsides. Meanwhile, Invisalign store closure put pressure on the bottom line.”

NASDAQ:ALGN opened at $260.44 on Friday. Align Technology, Inc. has a 52 week low of $169.84 and a 52 week high of $334.64. The firm has a market cap of $20.38 billion, a price-to-earnings ratio of 52.93, a P/E/G ratio of 2.27 and a beta of 2.07. The firm’s 50-day simple moving average is $219.76 and its 200 day simple moving average is $243.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.73.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.14. Align Technology had a net margin of 18.28% and a return on equity of 28.76%. The business had revenue of $607.30 million for the quarter, compared to analyst estimates of $595.29 million. During the same period last year, the firm earned $1.24 earnings per share. Align Technology’s revenue for the quarter was up 20.2% compared to the same quarter last year. Sell-side analysts anticipate that Align Technology, Inc. will post 5.17 EPS for the current year.

In other Align Technology news, Director Yuval Shaked sold 500 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $260.25, for a total transaction of $130,125.00. Following the sale, the director now directly owns 841 shares in the company, valued at $218,870.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Lacob sold 7,669 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $260.00, for a total transaction of $1,993,940.00. The disclosure for this sale can be found here. Insiders have sold 36,817 shares of company stock worth $8,328,673 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. YorkBridge Wealth Partners LLC boosted its stake in shares of Align Technology by 1.0% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 5,205 shares of the medical equipment provider’s stock valued at $942,000 after purchasing an additional 50 shares in the last quarter. Foresight Wealth Management LLC boosted its stake in shares of Align Technology by 5.5% in the 2nd quarter. Foresight Wealth Management LLC now owns 1,040 shares of the medical equipment provider’s stock valued at $285,000 after purchasing an additional 54 shares in the last quarter. Magnus Financial Group LLC boosted its stake in shares of Align Technology by 9.2% in the 2nd quarter. Magnus Financial Group LLC now owns 769 shares of the medical equipment provider’s stock valued at $210,000 after purchasing an additional 65 shares in the last quarter. Cim Investment Mangement Inc. boosted its stake in shares of Align Technology by 3.7% in the 2nd quarter. Cim Investment Mangement Inc. now owns 1,840 shares of the medical equipment provider’s stock valued at $504,000 after purchasing an additional 65 shares in the last quarter. Finally, Cetera Advisor Networks LLC boosted its stake in shares of Align Technology by 8.9% in the 2nd quarter. Cetera Advisor Networks LLC now owns 833 shares of the medical equipment provider’s stock valued at $228,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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