Align Technology, Inc. (ALGN) Receives Consensus Rating of “Buy” from Analysts

Align Technology, Inc. (NASDAQ:ALGN) has been given an average rating of “Buy” by the eight research firms that are presently covering the firm. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $102.40.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Stifel Nicolaus increased their price objective on shares of Align Technology from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, November 28th. Finally, Jefferies Group LLC increased their price objective on shares of Align Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, January 23rd.

TRADEMARK VIOLATION WARNING: “Align Technology, Inc. (ALGN) Receives Consensus Rating of “Buy” from Analysts” was first reported by Mideast Time and is owned by of Mideast Time. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.mideasttime.com/align-technology-inc-algn-receives-consensus-rating-of-buy-from-analysts/1590203.html.

Shares of Align Technology (NASDAQ:ALGN) opened at 114.02 on Tuesday. The firm has a market cap of $9.15 billion, a PE ratio of 48.94 and a beta of 1.40. The stock’s 50 day moving average is $104.05 and its 200 day moving average is $96.01. Align Technology has a 12 month low of $69.71 and a 12 month high of $114.99.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Tuesday, January 31st. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by $0.07. The firm had revenue of $293.20 million for the quarter, compared to analyst estimates of $292.75 million. Align Technology had a return on equity of 20.82% and a net margin of 17.57%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. Analysts forecast that Align Technology will post $2.98 EPS for the current fiscal year.

In related news, Director Joseph Lacob sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $102.67, for a total value of $5,133,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher C. Puco sold 24,353 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $101.88, for a total transaction of $2,481,083.64. Following the completion of the transaction, the vice president now owns 19,691 shares of the company’s stock, valued at approximately $2,006,119.08. The disclosure for this sale can be found here. Insiders sold 159,881 shares of company stock valued at $16,161,265 in the last three months. Company insiders own 2.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ALGN. Proficio Capital Partners LLC raised its position in shares of Align Technology by 369.0% in the third quarter. Proficio Capital Partners LLC now owns 1,271 shares of the company’s stock worth $119,000 after buying an additional 1,000 shares during the period. Pacad Investment Ltd. acquired a new position in shares of Align Technology during the fourth quarter worth about $183,000. Smithfield Trust Co. raised its position in shares of Align Technology by 8.3% in the third quarter. Smithfield Trust Co. now owns 2,080 shares of the company’s stock worth $195,000 after buying an additional 160 shares during the period. Carroll Financial Associates Inc. raised its position in shares of Align Technology by 0.5% in the third quarter. Carroll Financial Associates Inc. now owns 2,180 shares of the company’s stock worth $204,000 after buying an additional 10 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Align Technology by 14.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,179 shares of the company’s stock worth $204,000 after buying an additional 281 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

About Align Technology

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

5 Day Chart for NASDAQ:ALGN

Receive News & Ratings for Align Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.