Northcoast Research reaffirmed their buy rating on shares of Align Technology, Inc. (NASDAQ:ALGN) in a research report sent to investors on Tuesday morning. Northcoast Research currently has a $230.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $200.00. Northcoast Research also issued estimates for Align Technology’s Q3 2017 earnings at $0.82 EPS, FY2017 earnings at $3.42 EPS, Q2 2018 earnings at $1.14 EPS and Q3 2018 earnings at $1.15 EPS.
A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley reissued an overweight rating and issued a $220.00 price target (up from $195.00) on shares of Align Technology in a research note on Friday, October 6th. Goldman Sachs Group, Inc. (The) boosted their price target on shares of Align Technology from $185.00 to $210.00 and gave the company a buy rating in a research note on Friday, September 15th. Robert W. Baird reissued a buy rating on shares of Align Technology in a research note on Tuesday, September 12th. Piper Jaffray Companies reissued a buy rating and issued a $200.00 price target on shares of Align Technology in a research note on Monday, September 11th. Finally, Zacks Investment Research downgraded shares of Align Technology from a strong-buy rating to a hold rating in a research note on Monday, August 21st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $193.20.
Align Technology (ALGN) opened at 188.67 on Tuesday. The stock has a market capitalization of $15.12 billion, a price-to-earnings ratio of 64.61 and a beta of 1.54. The stock’s 50 day moving average is $182.35 and its 200-day moving average is $153.70. Align Technology has a 12 month low of $83.27 and a 12 month high of $191.78.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. The business had revenue of $356.50 million for the quarter, compared to the consensus estimate of $343.43 million. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The business’s revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. On average, equities research analysts expect that Align Technology will post $3.41 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Honkamp Krueger Financial Services Inc. increased its stake in Align Technology by 1.7% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock worth $306,000 after buying an additional 34 shares during the period. Buckingham Asset Management LLC grew its holdings in Align Technology by 3.3% during the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock worth $279,000 after acquiring an additional 59 shares in the last quarter. Security Asset Management grew its holdings in Align Technology by 0.5% during the 2nd quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock worth $1,912,000 after acquiring an additional 65 shares in the last quarter. Van ECK Associates Corp grew its holdings in Align Technology by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 1,057 shares of the medical equipment provider’s stock worth $121,000 after acquiring an additional 68 shares in the last quarter. Finally, BB&T Securities LLC grew its holdings in Align Technology by 3.5% during the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock worth $413,000 after acquiring an additional 94 shares in the last quarter. 81.56% of the stock is currently owned by hedge funds and other institutional investors.
Align Technology Company Profile
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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