Align Technology, Inc. (ALGN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Align Technology, Inc. (NASDAQ:ALGN) have received an average recommendation of “Buy” from the nineteen brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $302.44.

A number of equities analysts have issued reports on ALGN shares. Zacks Investment Research raised Align Technology from a “hold” rating to a “buy” rating and set a $272.00 target price for the company in a report on Wednesday, April 4th. Vetr cut Align Technology from a “strong-buy” rating to a “buy” rating and set a $302.42 target price for the company. in a report on Monday, March 12th. BidaskClub raised Align Technology from a “hold” rating to a “buy” rating in a research note on Saturday, March 10th. Stifel Nicolaus increased their price target on Align Technology from $295.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. Finally, Berenberg Bank assumed coverage on Align Technology in a research note on Friday, April 20th. They issued a “buy” rating and a $305.00 price target for the company.

Align Technology traded down $6.33, reaching $353.27, on Monday, according to MarketBeat Ratings. The stock had a trading volume of 1,295,665 shares, compared to its average volume of 923,526. Align Technology has a fifty-two week low of $148.01 and a fifty-two week high of $371.55. The stock has a market cap of $28.82 billion, a PE ratio of 90.81, a PEG ratio of 2.62 and a beta of 1.55.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, April 25th. The medical equipment provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.19. Align Technology had a return on equity of 30.36% and a net margin of 16.12%. The business had revenue of $436.92 million during the quarter, compared to analysts’ expectations of $408.27 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 40.8% compared to the same quarter last year. equities analysts forecast that Align Technology will post 4.73 earnings per share for the current fiscal year.

In related news, Director C Raymond Larkin, Jr. sold 15,000 shares of the company’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $264.45, for a total transaction of $3,966,750.00. Following the sale, the director now owns 97,922 shares in the company, valued at approximately $25,895,472.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jennifer Olson sold 1,505 shares of the company’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $334.05, for a total value of $502,745.25. Following the sale, the senior vice president now owns 3,919 shares in the company, valued at approximately $1,309,141.95. The disclosure for this sale can be found here. In the last three months, insiders sold 188,434 shares of company stock valued at $51,437,919. Insiders own 1.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in shares of Align Technology during the 1st quarter valued at about $100,000. Cornerstone Advisors Inc. boosted its position in shares of Align Technology by 133.7% during the 1st quarter. Cornerstone Advisors Inc. now owns 437 shares of the medical equipment provider’s stock valued at $110,000 after purchasing an additional 250 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in shares of Align Technology during the 4th quarter valued at about $168,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of Align Technology during the 1st quarter valued at about $203,000. Finally, Apriem Advisors bought a new stake in shares of Align Technology during the 1st quarter valued at about $213,000. Institutional investors own 78.01% of the company’s stock.

About Align Technology

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.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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