Berenberg Bank lowered shares of Align Technology (NASDAQ:ALGN) from a buy rating to a hold rating in a research report report published on Wednesday morning, BenzingaRatingsTable reports. They currently have $306.00 price objective on the medical equipment provider’s stock.

ALGN has been the topic of several other reports. Piper Sandler upped their price objective on Align Technology from $258.00 to $345.00 and gave the company an overweight rating in a research report on Thursday, July 23rd. SVB Leerink upped their price target on Align Technology from $310.00 to $340.00 and gave the company an outperform rating in a report on Thursday, July 23rd. OTR Global upgraded Align Technology to a positive rating in a report on Friday, June 12th. BofA Securities lowered Align Technology from a neutral rating to an underperform rating and set a $280.00 target price for the company. in a research report on Monday, July 20th. Finally, Stifel Nicolaus raised their price target on shares of Align Technology from $275.00 to $300.00 and gave the company a buy rating in a report on Friday, June 12th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Align Technology currently has an average rating of Hold and an average target price of $279.00.

ALGN opened at $293.82 on Wednesday. The firm has a market cap of $23.14 billion, a PE ratio of 13.67, a P/E/G ratio of 20.62 and a beta of 2.01. The stock has a 50-day moving average price of $280.38 and a 200-day moving average price of $239.85. Align Technology has a 1 year low of $127.88 and a 1 year high of $326.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.22 and a quick ratio of 1.08.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 22nd. The medical equipment provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.06). The firm had revenue of $352.31 million during the quarter, compared to analysts’ expectations of $345.50 million. Align Technology had a return on equity of 81.50% and a net margin of 78.75%. During the same period last year, the firm posted $1.83 earnings per share. As a group, sell-side analysts anticipate that Align Technology will post 1.15 EPS for the current year.

In related news, SVP Julie Tay sold 3,370 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $241.00, for a total transaction of $812,170.00. Following the completion of the transaction, the senior vice president now directly owns 25,242 shares in the company, valued at approximately $6,083,322. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Vamsi Mohan Raj Pudipeddi sold 2,346 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $230.09, for a total value of $539,791.14. Following the transaction, the chief marketing officer now owns 1,246 shares of the company’s stock, valued at $286,692.14. The disclosure for this sale can be found here. Insiders have sold a total of 60,716 shares of company stock worth $16,805,104 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Guggenheim Capital LLC raised its position in shares of Align Technology by 16.9% during the 4th quarter. Guggenheim Capital LLC now owns 30,765 shares of the medical equipment provider’s stock valued at $8,585,000 after purchasing an additional 4,456 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Align Technology in the fourth quarter valued at about $11,301,000. Norges Bank purchased a new position in shares of Align Technology in the fourth quarter valued at about $237,845,000. Franklin Resources Inc. boosted its stake in shares of Align Technology by 341.3% in the fourth quarter. Franklin Resources Inc. now owns 22,690 shares of the medical equipment provider’s stock worth $6,330,000 after acquiring an additional 17,548 shares during the period. Finally, TFG Advisers LLC purchased a new stake in shares of Align Technology during the fourth quarter worth about $86,000. Institutional investors and hedge funds own 86.02% 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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