Align Technology, Inc. (NASDAQ:ALGN) Given Consensus Rating of “Moderate Buy” by Analysts
Shares of Align Technology, Inc. (NASDAQ:ALGN - Get Rating) have been given an average rating of "Hold" by the eleven research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $298.00.
Several equities research analysts recently issued reports on ALGN shares. The Goldman Sachs Group reduced their target price on shares of Align Technology from $250.00 to $165.00 and set a "sell" rating for the company in a report on Thursday, October 27th. Stifel Nicolaus decreased their price objective on shares of Align Technology from $325.00 to $265.00 in a research report on Thursday, October 27th. Robert W. Baird lowered their target price on shares of Align Technology from $310.00 to $260.00 in a research note on Thursday, October 27th. Morgan Stanley cut their price target on Align Technology from $402.00 to $314.00 and set an "overweight" rating for the company in a research note on Thursday, October 27th. Finally, Piper Sandler lowered their price objective on Align Technology from $300.00 to $230.00 in a research report on Thursday, October 27th.
Align Technology Trading Down 0.6 %
ALGN stock opened at $210.90 on Friday. The stock's 50 day simple moving average is $196.64 and its 200 day simple moving average is $229.89. Align Technology has a 12-month low of $172.05 and a 12-month high of $674.89. The stock has a market capitalization of $16.47 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 28.22 and a beta of 1.65.
Align Technology (NASDAQ:ALGN - Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.93 by ($0.95). Align Technology had a net margin of 13.22% and a return on equity of 14.39%. The business had revenue of $890.35 million for the quarter, compared to the consensus estimate of $973.00 million. During the same period in the previous year, the company earned $2.28 earnings per share. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, research analysts predict that Align Technology will post 5.81 earnings per share for the current year.
Insider Activity at Align Technology
In other news, CEO Joseph M. Hogan bought 10,600 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was purchased at an average cost of $188.58 per share, for a total transaction of $1,998,948.00. Following the transaction, the chief executive officer now owns 185,401 shares of the company's stock, valued at $34,962,920.58. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Warren S. Thaler acquired 1,050 shares of the firm's stock in a transaction on Wednesday, November 2nd. The shares were acquired at an average cost of $191.21 per share, for a total transaction of $200,770.50. Following the completion of the transaction, the director now directly owns 30,666 shares in the company, valued at approximately $5,863,645.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph M. Hogan bought 10,600 shares of the business's stock in a transaction dated Wednesday, November 2nd. The shares were bought at an average cost of $188.58 per share, for a total transaction of $1,998,948.00. Following the transaction, the chief executive officer now owns 185,401 shares in the company, valued at approximately $34,962,920.58. The disclosure for this purchase can be found here. 0.64% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. J.W. Cole Advisors Inc. bought a new position in Align Technology during the 1st quarter valued at about $29,000. Tsfg LLC grew its stake in shares of Align Technology by 68.0% during the second quarter. Tsfg LLC now owns 126 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 51 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Align Technology by 188.0% in the third quarter. Cullen Frost Bankers Inc. now owns 144 shares of the medical equipment provider's stock worth $30,000 after buying an additional 94 shares during the period. Castle Wealth Management LLC bought a new stake in shares of Align Technology during the 2nd quarter worth approximately $38,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Align Technology by 60.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 176 shares of the medical equipment provider's stock valued at $42,000 after acquiring an additional 66 shares during the period. Institutional investors own 84.90% of the company's stock.
Align Technology Company Profile
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.
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