Several brokerages have updated their recommendations and price targets on shares of Align Technology (NASDAQ: ALGN) in the last few weeks:

  • 2/9/2018 – Align Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 2/1/2018 – Align Technology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Align Technology posted promising fourth-quarter 2017 performance with better-than-expected earnings and revenues performances. We are encouraged by the company’s solid Invisalign Technology prospects and growth in North America and internationally, particularly in the Asia-Pacific region. We are also upbeat about the company signing of a distribution agreement with Glidewell Dental to distribute the iTero Element intraoral scanning system with the latest glidewell.io In-Office Solution in North America. On the flip side, adverse foreign currency fluctuation is a concern. Moreover, tough competition, rising operating costs and macroeconomic headwinds continue to weigh on the stock. Over the past three months, Align Technology has been trading below the broader industry.”
  • 1/31/2018 – Align Technology was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 1/31/2018 – Align Technology had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $300.00 price target on the stock.
  • 1/31/2018 – Align Technology had its price target raised by analysts at Leerink Swann from $300.00 to $305.00. They now have an “outperform” rating on the stock.
  • 1/31/2018 – Align Technology had its price target raised by analysts at Credit Suisse Group AG from $276.00 to $290.00. They now have an “outperform” rating on the stock.
  • 1/30/2018 – Align Technology had its price target raised by analysts at Stifel Nicolaus from $265.00 to $295.00. They now have a “buy” rating on the stock.
  • 1/29/2018 – Align Technology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $318.00 price target on the stock. According to Zacks, “Post a promising third-quarter 2017 performance by Align Technology, we are encouraged by the company’s solid InvisAlign prospects and growth in North America and internationally, particularly in the Asia-Pacific region. We are particularly impressed with soaring demand for the InvisAlign products in the teen market worldwide. We are also upbeat about the company signing of a distribution agreement with Patterson Dental. The company’s receipt of two U.S. patents for SmartTrack InvisAlign Aligner material buoys optimism. Notably, over the past three months, Align Technology has been trading above the broader industry. On the flip side, adverse foreign currency fluctuation is a concern. Moreover, tough competition and macroeconomic headwinds continue to weigh on the stock.”
  • 1/19/2018 – Align Technology was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating. They now have a $230.00 price target on the stock.
  • 1/4/2018 – Align Technology was upgraded by analysts at Credit Suisse Group AG to a “buy” rating. They now have a $276.00 price target on the stock.
  • 12/27/2017 – Align Technology was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Post a promising third-quarter 2017 performance by Align Technology, we are encouraged by the company’s solid InvisAlign prospects and growth in North America and internationally, particularly in the Asia-Pacific region. We are particularly impressed with soaring demand for the InvisAlign products in the teen market worldwide. We are also upbeat about the company signing of a distribution agreement with Patterson Dental. The company’s receipt of two U.S. patents for SmartTrack InvisAlign Aligner material buoys optimism. Notably, over the past month, Align Technology has been trading above the broader industry. On the flip side, adverse foreign currency fluctuation is a concern. Moreover, tough competition and macroeconomic headwinds continue to weigh on the stock.”

Align Technology, Inc. (NASDAQ:ALGN) opened at $229.37 on Monday. The firm has a market cap of $18,390.36, a P/E ratio of 80.76, a PEG ratio of 1.75 and a beta of 1.48. Align Technology, Inc. has a 1-year low of $95.17 and a 1-year high of $287.32.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.23. The company had revenue of $421.30 million during the quarter, compared to analysts’ expectations of $395.88 million. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The business’s quarterly revenue was up 43.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. equities research analysts expect that Align Technology, Inc. will post 4.49 earnings per share for the current fiscal year.

In other news, VP Emory Wright sold 45,780 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $260.08, for a total value of $11,906,462.40. Following the sale, the vice president now owns 29,957 shares of the company’s stock, valued at $7,791,216.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John Morici sold 1,500 shares of the business’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $255.00, for a total transaction of $382,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,544 shares in the company, valued at approximately $393,720. The disclosure for this sale can be found here. Insiders sold 82,029 shares of company stock valued at $21,369,243 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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