December 7, 2022
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Align Technology, Inc. (NASDAQ:ALGN) Receives Average Rating of “Moderate Buy” from Brokerages

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Shares of Align Technology, Inc. (NASDAQ:ALGN – Get Rating) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $348.33.

Several analysts recently commented on ALGN shares. Piper Sandler decreased their price target on Align Technology from $340.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday. Stephens decreased their price target on Align Technology from $500.00 to $375.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. Evercore ISI reduced their price objective on Align Technology from $310.00 to $285.00 in a research note on Thursday, July 28th. Stifel Nicolaus reduced their price objective on Align Technology from $375.00 to $325.00 and set a “buy” rating on the stock in a research note on Wednesday, October 12th. Finally, UBS Group reduced their price objective on Align Technology from $380.00 to $370.00 and set a “buy” rating on the stock in a research note on Friday, July 29th.

Align Technology Price Performance

Shares of ALGN stock opened at $201.63 on Monday. The stock’s fifty day simple moving average is $244.59 and its 200 day simple moving average is $278.35. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 6.49 and a beta of 1.79. Align Technology has a one year low of $197.87 and a one year high of $713.33.

Align Technology (NASDAQ:ALGN – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $1.57 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.22). The company had revenue of $969.60 million during the quarter, compared to analyst estimates of $986.05 million. Align Technology had a net margin of 15.52% and a return on equity of 17.47%. Align Technology’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.51 EPS. On average, research analysts anticipate that Align Technology will post 7.57 earnings per share for the current year.

Hedge Funds Weigh In On Align Technology

Large investors have recently made changes to their positions in the company. Tsfg LLC lifted its stake in shares of Align Technology by 200.0% during the first quarter. Tsfg LLC now owns 75 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 50 shares during the period. Gradient Investments LLC lifted its stake in shares of Align Technology by 1,428.6% during the first quarter. Gradient Investments LLC now owns 107 shares of the medical equipment provider’s stock valued at $47,000 after acquiring an additional 100 shares during the period. SOA Wealth Advisors LLC. increased its holdings in Align Technology by 3,733.3% in the first quarter. SOA Wealth Advisors LLC. now owns 115 shares of the medical equipment provider’s stock valued at $50,000 after purchasing an additional 112 shares during the last quarter. Allworth Financial LP increased its holdings in Align Technology by 11,400.0% in the first quarter. Allworth Financial LP now owns 115 shares of the medical equipment provider’s stock valued at $50,000 after purchasing an additional 114 shares during the last quarter. Finally, Bank of New Hampshire bought a new stake in Align Technology in the first quarter valued at about $55,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

About Align Technology

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Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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