Shares of Align Technology, Inc. (NASDAQ: ALGN – Get Rating ) have an average Hold rating of 11 research firms currently covering the company, according to MarketBeat. One equity research analyst has given a Sell recommendation to the stock, one has given a Hold recommendation and three have issued a Buy recommendation. The twelve-month average price target of brokers who have rated the stock in the last year is $298.00.
Several equity research analysts recently issued reports on ALGN stock. Goldman Sachs Group lowered their price target on Align Technology from $250.00 to $165.00 and set a “sell” rating on the company in a report on Thursday, October 27th. Stifel Nicolaus cut their price target on shares of Align Technology from $325.00 to $265.00 in a research note on Thursday, October 27th. Robert W. Baird cut their price target on shares of Align Technology from $310.00 to $260.00 in a research report on Thursday, October 27th. Morgan Stanley cut their price target on Align Technology from $402.00 to $314.00 and set an “overweight” rating on the company in a research report on Thursday, October 27th. Finally, Piper Sandler cut their price objective on shares of Align Technology from $300.00 to $230.00 in a research report on Thursday, October 27th.
Align Technology traded down 0.6 percent
ALGN stock opened Friday at $210.90. The stock’s 50-day simple moving average is $196.64, and its 200-day simple moving average is $229.89. Align Technology had a 12-month low of $172.05 and a 12-month high of $674.89. The market cap is $16.47 billion, with a P/E ratio of 32.60, a P/E ratio of 28.22, and a beta of 1.65.
Align Technology (NASDAQ: ALGN – Rated ) last reported its quarterly earnings results on Wednesday, October 26th. The medical equipment supplier reported earnings per share (EPS) of $0.98 for the quarter, missing analysts’ consensus estimate of $1.93 ($0.95). Align Technology has a net profit margin of 13.22% and a return on equity of 14.39%. The business reported revenue of $890.35 million for the quarter, compared with the consensus estimate of $973.0 million. In the same period last year, the company earned $2.28 per share. The company’s revenue fell 12.4% in the quarter compared to the same period last year. On average, research analysts forecast Align Technology to post earnings per share of 5.81 for the year.
Align Technology Internal Activities
In other news, Chief Executive Officer Joseph M. Hogan purchased 10,600 shares in trading on Wednesday, Nov. 2. The average cost of buying shares was $188.58 per share, for a total transaction value of $1,998,948.00. Following the transaction, the CEO now owns 185,401 shares of the company, worth $34,962,920.58. The purchase was disclosed in a filing with the U.S. Securities and Exchange Commission, which can be accessed at this link. In related news, director Warren S. Thaler purchased 1,050 shares of the company’s stock in trading on Wednesday, November 2. The average acquisition cost of these shares was $191.21 per share, for a total transaction value of $200,770.50. Following the transaction, the directors now directly own 30,666 shares of the company, worth approximately $5,863,645.86. The transaction has been disclosed in a filing with the U.S. Securities and Exchange Commission, which can be accessed via this hyperlink. Additionally, Chief Executive Officer Joseph M. Hogan purchased 10,600 shares of the company in trading on Wednesday, November 2nd. The average purchase cost of these shares was $188.58 per share, for a total transaction value of $1,998,948.00. Following the transaction, the CEO now owns 185,401 shares of the company, worth approximately $34,962,920.58. The disclosure for this purchase can be found here. Company insiders own 0.64% of the stock.
Institutional inflows and outflows
A number of hedge funds have bought and sold the company’s stock recently. JW Cole Advisors Inc. bought a new position in Align Technology in the first quarter, worth about $29,000. Tsfg LLC increased its stake in Align Technology by 68.0% in the second quarter. Tsfg LLC now owns 126 shares worth $30,000 in the medical equipment supplier after buying an additional 51 shares last quarter. Cullen Frost Bankers Inc. increased its Align Technology stake by 188.0% in the third quarter. Cullen Frost Bankers Inc. now owns 144 shares of the medical equipment supplier, worth $30,000, after buying an additional 94 shares during that period. Castle Wealth Management LLC purchased a new stake in Align Technology in the second quarter, valued at approximately $38,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in Align Technology by 60.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 176 shares of the medical equipment supplier, worth $42,000, after acquiring an additional 66 shares in the period. Institutional investors hold 84.90% of the company’s shares.
Align Technology Company Profile
Align Technology, Inc is a medical device company that designs, manufactures and sells Invisalign clear aligners and the iTero intraoral scanner, and provides services to orthodontists and general practitioners, as well as restorative and cosmetic dentistry. It is divided into two parts, Clear Aligner; Scanner and Services.
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