Analysts Set Align Technology, Inc. (NASDAQ:ALGN) Price Target at $172.18

Shares of Align Technology, Inc. (NASDAQ:ALGN) have been given a consensus recommendation of “Hold” by the fifteen ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $172.1818.

A number of research firms have recently issued reports on ALGN. Jefferies Financial Group lifted their price objective on shares of Align Technology from $140.00 to $155.00 in a report on Thursday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, October 30th. Evercore ISI reduced their price objective on Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Barclays assumed coverage on Align Technology in a report on Monday, December 8th. They set an “equal weight” rating and a $170.00 price objective on the stock. Finally, Mizuho cut their target price on Align Technology from $210.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, October 13th.

Hedge Funds Weigh In On Align Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sentry Investment Management LLC lifted its stake in Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Align Technology in the third quarter worth about $26,000. Rothschild Investment LLC lifted its stake in shares of Align Technology by 140.3% in the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 87 shares during the last quarter. True Wealth Design LLC boosted its holdings in Align Technology by 7,650.0% during the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 153 shares during the period. Finally, Quent Capital LLC bought a new position in Align Technology during the 3rd quarter worth approximately $30,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of ALGN opened at $172.79 on Friday. Align Technology has a 52-week low of $122.00 and a 52-week high of $237.23. The stock’s 50-day simple moving average is $151.60 and its 200 day simple moving average is $152.03. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 33.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.23. The business had revenue of $995.69 million for the quarter, compared to analyst estimates of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. Align Technology’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.35 EPS. On average, research analysts forecast that Align Technology will post 7.98 earnings per share for the current fiscal year.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.