Weekly Investment Analysts’ Ratings Changes for Align Technology (ALGN)

A number of research firms have changed their ratings and price targets for Align Technology (NASDAQ: ALGN):

• 10/17/2024 – Align Technology had its price target lowered by analysts at Piper Sandler from $315.00 to $285.00. They now have an “overweight” rating on the stock.
• 10/11/2024 – Align Technology had its price target lowered by analysts at Stifel Nicolaus from $350.00 to $285.00. They now have a “buy” rating on the stock.
• 10/10/2024 – Align Technology is now covered by analysts at Needham & Company LLC. They set a “hold” rating on the stock.
• 10/8/2024 – Align Technology had its price target lowered by analysts at Evercore ISI from $280.00 to $270.00. They now have an “outperform” rating on the stock.
• 9/19/2024 – Align Technology was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/13/2024 – Align Technology had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $315.00 price target on the stock.
• 9/1/2024 – Align Technology was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/24/2024 – Align Technology was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Align Technology Stock Performance

Shares of ALGN traded down $3.15 during trading hours on Wednesday, hitting $207.66. 1,455,453 shares of the company were exchanged, compared to its average volume of 772,578. The company has a market cap of $15.63 billion, a PE ratio of 34.21, a PEG ratio of 5.33 and a beta of 1.64. The firm’s 50 day moving average is $234.20 and its 200-day moving average is $250.96. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. Align Technology’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. As a group, equities analysts forecast that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Align Technology

In related news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALGN. Mather Group LLC. acquired a new stake in shares of Align Technology in the 1st quarter valued at $26,000. LRI Investments LLC acquired a new stake in shares of Align Technology during the first quarter worth approximately $29,000. Cullen Frost Bankers Inc. raised its position in Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 94 shares during the last quarter. Rothschild Investment LLC acquired a new position in Align Technology in the second quarter worth $26,000. Finally, Innealta Capital LLC bought a new stake in shares of Align Technology during the second quarter worth $26,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.