Align Technology (NASDAQ:ALGN – Get Free Report) was downgraded by research analysts at Robert W. Baird from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks reports.
Other research analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price objective on Align Technology from $210.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Zacks Research lowered Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Evercore cut Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 target price on the stock. in a research note on Monday, October 5th. Leerink Partners decreased their price target on shares of Align Technology from $235.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets assumed coverage on shares of Align Technology in a research note on Wednesday, July 8th. They set an “outperform” rating and a $209.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $194.14.
View Our Latest Report on Align Technology
Align Technology Trading Up 3.4%
Shares of NASDAQ ALGN opened at $149.34 on Thursday. The firm has a market cap of $10.70 billion, a PE ratio of 25.97, a PEG ratio of 1.54 and a beta of 1.67. Align Technology has a 1-year low of $128.65 and a 1-year high of $200.43. The company has a fifty day moving average price of $154.54 and a 200 day moving average price of $167.32.
Align Technology (NASDAQ:ALGN – Get Free Report) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company earned $2.49 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that Align Technology will post 9.36 EPS for the current year.
Hedge Funds Weigh In On Align Technology
Hedge funds have recently modified their holdings of the stock. NFSG Corp increased its position in shares of Align Technology by 258.4% during the 3rd quarter. NFSG Corp now owns 896 shares of the medical equipment provider’s stock worth $122,000 after purchasing an additional 646 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Align Technology by 638.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock worth $629,469,000 after purchasing an additional 4,031,284 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Align Technology by 821.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 167,271 shares of the medical equipment provider’s stock worth $22,362,000 after purchasing an additional 149,113 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Align Technology by 3,686.2% in the 3rd quarter. Mather Group LLC. now owns 25,216 shares of the medical equipment provider’s stock valued at $3,342,000 after buying an additional 24,550 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in shares of Align Technology by 2,697.4% in the 3rd quarter. Fortitude Family Office LLC now owns 1,063 shares of the medical equipment provider’s stock valued at $141,000 after buying an additional 1,025 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.
About Align Technology
Align Technology, Inc is a medical device and digital technology company that designs, manufactures and markets products used in orthodontics and restorative dentistry. The company is best known for Invisalign clear aligners, which are custom-made orthodontic devices intended to gradually move patients’ teeth under the supervision of dental professionals.
Align also develops the iTero family of intraoral scanners and related digital imaging systems, which help dental professionals create digital impressions and treatment plans.
Read More
- Five stocks we like better than Align Technology
- ASML Can’t Keep Up With AI Demand—Why That’s a Good Thing
- Enovix’s 100,000-Battery Drone Order Sets Up a Test of Its Production Plans
- AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle
- Beyond the GPU: Credo Paves the Next AI Data Superhighway
Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.
