Investment Analysts’ Recent Ratings Updates for Align Technology (ALGN)

Align Technology (NASDAQ: ALGN) has recently received a number of price target changes and ratings updates:

• 11/4/2024 – Align Technology had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 10/24/2024 – Align Technology had its price target lowered by analysts at Morgan Stanley from $310.00 to $280.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – Align Technology had its price target lowered by analysts at Piper Sandler from $285.00 to $275.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – Align Technology had its price target lowered by analysts at Evercore ISI from $270.00 to $250.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – Align Technology had its price target lowered by analysts at Robert W. Baird from $325.00 to $276.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – Align Technology had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 10/24/2024 – Align Technology had its price target lowered by analysts at Stifel Nicolaus from $285.00 to $275.00. They now have a “buy” rating on the stock.
• 10/17/2024 – Align Technology had its price target lowered by analysts at Piper Sandler from $315.00 to $285.00. They now have an “overweight” rating on the stock.
• 10/11/2024 – Align Technology had its price target lowered by analysts at Stifel Nicolaus from $350.00 to $285.00. They now have a “buy” rating on the stock.
• 10/10/2024 – Align Technology is now covered by analysts at Needham & Company LLC. They set a “hold” rating on the stock.
• 10/8/2024 – Align Technology had its price target lowered by analysts at Evercore ISI from $280.00 to $270.00. They now have an “outperform” rating on the stock.
• 9/19/2024 – Align Technology was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Align Technology Price Performance

NASDAQ ALGN traded down $4.28 during trading hours on Wednesday, hitting $214.81. 320,920 shares of the company’s stock traded hands, compared to its average volume of 782,062. The company has a market capitalization of $16.04 billion, a PE ratio of 36.66, a PEG ratio of 5.68 and a beta of 1.65. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The firm’s 50-day moving average is $229.04 and its 200-day moving average is $241.11.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the previous year, the business earned $1.62 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts predict that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares in the company, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Align Technology

Several hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in Align Technology by 4,391.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock worth $117,879,000 after acquiring an additional 477,380 shares in the last quarter. FMR LLC grew its holdings in shares of Align Technology by 43.0% during the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after purchasing an additional 367,508 shares during the last quarter. Swedbank AB acquired a new stake in shares of Align Technology during the first quarter worth about $96,117,000. Bares Capital Management Inc. lifted its holdings in shares of Align Technology by 44.4% in the 1st quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock valued at $268,871,000 after purchasing an additional 252,220 shares during the last quarter. Finally, Senvest Management LLC boosted its position in shares of Align Technology by 76.4% in the 3rd quarter. Senvest Management LLC now owns 459,243 shares of the medical equipment provider’s stock valued at $116,795,000 after purchasing an additional 198,893 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

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.