Shares of Align Technology, Inc. (NASDAQ:ALGN) have been assigned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $294.40.

A number of brokerages recently issued reports on ALGN. Piper Jaffray Companies set a $240.00 price objective on shares of Align Technology and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wolfe Research began coverage on shares of Align Technology in a research note on Thursday, May 30th. They issued a “peer perform” rating on the stock. Zacks Investment Research cut shares of Align Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Stifel Nicolaus decreased their price objective on shares of Align Technology from $360.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Robert W. Baird decreased their price objective on shares of Align Technology from $336.00 to $259.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th.

Shares of ALGN traded up $4.76 during mid-day trading on Friday, hitting $181.15. 535,793 shares of the company’s stock were exchanged, compared to its average volume of 2,090,405. Align Technology has a 52 week low of $172.62 and a 52 week high of $398.88. The stock’s 50-day simple moving average is $228.57 and its 200-day simple moving average is $269.46. The firm has a market cap of $14.19 billion, a price-to-earnings ratio of 36.82, a price-to-earnings-growth ratio of 1.46 and a beta of 1.95. The company has a quick ratio of 1.74, a current ratio of 1.85 and a debt-to-equity ratio of 0.04.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.13. Align Technology had a net margin of 19.06% and a return on equity of 29.26%. The company had revenue of $600.70 million for the quarter, compared to analysts’ expectations of $599.86 million. During the same period last year, the firm earned $1.30 earnings per share. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. Analysts forecast that Align Technology will post 5 earnings per share for the current fiscal year.

In other news, Director Greg J. Santora sold 3,000 shares of Align Technology stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $313.13, for a total transaction of $939,390.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Vamsi Mohan Raj Pudipeddi purchased 1,100 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $188.11 per share, for a total transaction of $206,921.00. Following the acquisition, the vice president now owns 1,100 shares of the company’s stock, valued at approximately $206,921. The disclosure for this purchase can be found here. Insiders sold 45,108 shares of company stock worth $9,961,805 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Large investors have recently modified their holdings of the company. Stephens Investment Management Group LLC lifted its holdings in shares of Align Technology by 36.2% during the first quarter. Stephens Investment Management Group LLC now owns 73,114 shares of the medical equipment provider’s stock worth $20,789,000 after purchasing an additional 19,452 shares during the period. Chicago Capital LLC acquired a new position in shares of Align Technology during the second quarter worth $492,000. Allstate Corp lifted its holdings in Align Technology by 253.6% in the first quarter. Allstate Corp now owns 3,914 shares of the medical equipment provider’s stock valued at $1,113,000 after buying an additional 2,807 shares during the period. Brightworth lifted its holdings in Align Technology by 12.0% in the second quarter. Brightworth now owns 11,478 shares of the medical equipment provider’s stock valued at $3,142,000 after buying an additional 1,233 shares during the period. Finally, Heritage Investors Management Corp lifted its holdings in Align Technology by 19.9% in the second quarter. Heritage Investors Management Corp now owns 7,817 shares of the medical equipment provider’s stock valued at $2,140,000 after buying an additional 1,296 shares during the period. Institutional investors own 84.15% of the company’s stock.

Align Technology Company Profile

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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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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