Wall Street Zen downgraded shares of Align Technology (NASDAQ:ALGN – Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
Several other equities research analysts have also weighed in on ALGN. Zacks Research lowered shares of Align Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Stifel Nicolaus reduced their price target on shares of Align Technology from $210.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Raymond James Financial reissued a “buy” rating on shares of Align Technology in a report on Monday, October 5th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, July 30th. Finally, Mizuho dropped their price objective on Align Technology from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.93.
Check Out Our Latest Report on ALGN
Align Technology Price Performance
Shares of ALGN stock opened at $154.51 on Friday. The stock has a market cap of $11.07 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.67. The stock has a 50-day moving average of $151.62 and a 200-day moving average of $166.55. Align Technology has a one year low of $130.23 and a one year high of $200.43.
Align Technology (NASDAQ:ALGN – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. Align Technology’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.49 EPS. As a group, research analysts anticipate that Align Technology will post 9.27 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. K.J. Harrison & Partners Inc acquired a new position in Align Technology in the 2nd quarter worth $1,872,000. Maridea Wealth Management LLC acquired a new stake in shares of Align Technology in the 2nd quarter valued at about $1,659,000. Pallas Capital Advisors LLC acquired a new stake in shares of Align Technology in the 2nd quarter valued at about $1,128,000. NewEdge Wealth LLC bought a new stake in shares of Align Technology in the second quarter valued at about $1,658,000. Finally, Nykredit A S acquired a new position in shares of Align Technology during the second quarter worth about $74,077,000. Institutional investors and hedge funds own 88.43% of the company’s stock.
About Align Technology
Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.
Align’s products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.
The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.
Further Reading
- Five stocks we like better than Align Technology
- Bloom Energy Just Reported—Its Biggest Order Is Still Waiting on a Pipeline
- Why Western Digital’s AI Storage Boom Defies the Chip Sell-Off
- Grand Canyon Education Strengthens Its Outlook, But Wall Street Remains Divided
- Amex Stock Slides on Job Cuts, But the Real Story Is Macro
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.
