Align Technology, Inc. (ALGN) Receives Average Recommendation of “Buy” from Analysts
Shares of Align Technology, Inc. (NASDAQ:ALGN) have been assigned a consensus recommendation of “Buy” from the twenty analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $320.96.
ALGN has been the subject of a number of recent research reports. ValuEngine cut Align Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research cut Align Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Robert W. Baird lifted their price objective on Align Technology from $255.00 to $286.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. They noted that the move was a valuation call. Credit Suisse Group dropped their price objective on Align Technology from $277.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 30th. Finally, UBS Group initiated coverage on Align Technology in a research report on Thursday, January 17th. They set a “buy” rating and a $230.00 price objective for the company.
Shares of ALGN stock opened at $259.29 on Wednesday. Align Technology has a fifty-two week low of $177.93 and a fifty-two week high of $398.88. The firm has a market capitalization of $20.18 billion, a PE ratio of 52.70, a PEG ratio of 2.30 and a beta of 2.12.
In other Align Technology news, Director Joseph Lacob sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $258.31, for a total value of $5,166,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yuval Shaked sold 400 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $255.52, for a total value of $102,208.00. Following the completion of the sale, the director now directly owns 24 shares in the company, valued at $6,132.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,650 shares of company stock valued at $5,586,633. 1.40% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its holdings in shares of Align Technology by 7.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 8,160 shares of the medical equipment provider’s stock worth $3,192,000 after acquiring an additional 576 shares during the last quarter. JPMorgan Chase & Co. raised its position in Align Technology by 47.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 216,832 shares of the medical equipment provider’s stock worth $84,830,000 after purchasing an additional 69,997 shares during the period. Candriam Luxembourg S.C.A. raised its position in Align Technology by 6.0% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 5,260 shares of the medical equipment provider’s stock worth $2,058,000 after purchasing an additional 297 shares during the period. MML Investors Services LLC raised its position in Align Technology by 14.8% in the 3rd quarter. MML Investors Services LLC now owns 6,744 shares of the medical equipment provider’s stock worth $2,638,000 after purchasing an additional 870 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Align Technology by 148.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 521 shares of the medical equipment provider’s stock worth $204,000 after purchasing an additional 311 shares during the period. 81.69% of the stock is currently owned by hedge funds and other institutional investors.
About Align Technology
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
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