Brokerages Set Align Technology, Inc. (NASDAQ:ALGN) Target Price at $276.38

Align Technology, Inc. (NASDAQ:ALGN) has earned a consensus rating of “Hold” from the ten research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $276.38.

A number of brokerages recently weighed in on ALGN. Evercore ISI dropped their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus cut their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird decreased their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley lowered their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th.

Insider Buying and Selling at Align Technology

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 shares were acquired at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALGN. Norden Group LLC raised its stake in shares of Align Technology by 86.9% in the 1st quarter. Norden Group LLC now owns 1,822 shares of the medical equipment provider’s stock valued at $597,000 after buying an additional 847 shares in the last quarter. Private Advisor Group LLC lifted its stake in Align Technology by 81.4% during the first quarter. Private Advisor Group LLC now owns 2,262 shares of the medical equipment provider’s stock worth $742,000 after purchasing an additional 1,015 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Align Technology by 3.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,102 shares of the medical equipment provider’s stock valued at $689,000 after purchasing an additional 78 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Align Technology by 1.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 8,822 shares of the medical equipment provider’s stock valued at $2,893,000 after purchasing an additional 108 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Align Technology by 14.4% in the 1st quarter. Jennison Associates LLC now owns 100,300 shares of the medical equipment provider’s stock worth $32,890,000 after buying an additional 12,601 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of Align Technology stock opened at $225.24 on Tuesday. Align Technology has a 1-year low of $190.75 and a 1-year high of $335.40. The company has a market capitalization of $16.81 billion, a P/E ratio of 38.44, a PEG ratio of 5.71 and a beta of 1.65. The business’s fifty day moving average price is $229.43 and its two-hundred day moving average price is $242.34.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same quarter in the prior year, the firm posted $1.62 EPS. Align Technology’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts expect that Align Technology will post 7.45 earnings per share for the current fiscal 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.