Shares of Align Technology, Inc. (NASDAQ:ALGN) have been assigned an average rating of “Buy” from the nineteen analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $338.09.

A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Align Technology from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Morgan Stanley reduced their price objective on Align Technology from $300.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 4th. Barclays reissued a “buy” rating and issued a $275.00 price objective on shares of Align Technology in a research note on Sunday, January 6th. ValuEngine lowered Align Technology from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, BidaskClub downgraded Align Technology from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th.

NASDAQ ALGN traded down $4.39 during mid-day trading on Friday, reaching $198.25. 1,015,349 shares of the stock were exchanged, compared to its average volume of 1,546,286. The company has a market capitalization of $16.02 billion, a PE ratio of 50.96, a price-to-earnings-growth ratio of 1.45 and a beta of 1.91. Align Technology has a 1 year low of $177.93 and a 1 year high of $398.88.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.05. The firm had revenue of $505.30 million for the quarter, compared to analysts’ expectations of $503.14 million. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. The firm’s revenue was up 31.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share. As a group, equities analysts predict that Align Technology will post 4.87 earnings per share for the current fiscal year.

In other Align Technology news, SVP Sreelakshmi Kolli sold 5,000 shares of the stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $223.15, for a total value of $1,115,750.00. Following the sale, the senior vice president now directly owns 27,180 shares of the company’s stock, valued at $6,065,217. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher C. Puco sold 8,764 shares of the firm’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $227.42, for a total value of $1,993,108.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,764 shares of company stock worth $5,427,059. 1.40% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of ALGN. BlackRock Inc. raised its position in Align Technology by 2.2% in the 3rd quarter. BlackRock Inc. now owns 5,264,644 shares of the medical equipment provider’s stock valued at $2,059,633,000 after purchasing an additional 113,728 shares during the last quarter. FMR LLC raised its holdings in Align Technology by 6.2% during the third quarter. FMR LLC now owns 1,811,522 shares of the medical equipment provider’s stock worth $708,704,000 after acquiring an additional 106,012 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in Align Technology by 1.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 938,023 shares of the medical equipment provider’s stock valued at $366,973,000 after buying an additional 9,958 shares during the period. Winslow Capital Management LLC increased its stake in shares of Align Technology by 30.2% during the third quarter. Winslow Capital Management LLC now owns 564,651 shares of the medical equipment provider’s stock worth $220,903,000 after purchasing an additional 130,982 shares during the period. Finally, TIAA CREF Investment Management LLC grew its position in Align Technology by 22.7% during the third quarter. TIAA CREF Investment Management LLC now owns 480,391 shares of the medical equipment provider’s stock worth $187,939,000 after buying an additional 88,731 shares in the last quarter. 77.80% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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