Brokerages Set Align Technology, Inc. (NASDAQ:ALGN) Target Price at $195.58

Align Technology, Inc. (NASDAQ:ALGN) has received an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $198.0833.

A number of equities research analysts have commented on ALGN shares. Jefferies Financial Group increased their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Leerink Partners increased their price objective on shares of Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. HSBC boosted their target price on shares of Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. Morgan Stanley raised their price target on shares of Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Finally, Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th.

Insider Buying and Selling at Align Technology

In other news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the transaction, the executive vice president directly owned 8,237 shares in the company, valued at $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of Align Technology

Large investors have recently made changes to their positions in the business. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Align Technology by 3.7% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,896 shares of the medical equipment provider’s stock valued at $296,000 after purchasing an additional 68 shares during the period. Atria Investments Inc grew its holdings in Align Technology by 4.9% during the second quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after acquiring an additional 74 shares during the period. Comerica Bank raised its position in Align Technology by 0.6% during the fourth quarter. Comerica Bank now owns 13,656 shares of the medical equipment provider’s stock valued at $2,132,000 after acquiring an additional 76 shares in the last quarter. Arizona State Retirement System lifted its holdings in Align Technology by 0.4% in the third quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock valued at $2,553,000 after acquiring an additional 79 shares during the period. Finally, Sentry Investment Management LLC boosted its position in Align Technology by 73.1% in the 3rd 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 in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Performance

NASDAQ:ALGN opened at $188.05 on Monday. The company’s 50-day simple moving average is $171.11 and its 200-day simple moving average is $150.33. Align Technology has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The stock has a market capitalization of $13.49 billion, a P/E ratio of 33.22, a P/E/G ratio of 2.03 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. Align Technology’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $2.44 earnings per share. On average, research analysts forecast that Align Technology will post 7.98 EPS for the current year.

Align Technology Company Profile

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.