Align Technology Inc. (NASDAQ:ALGN) shares traded 2.55% higher at $196.28 on Wall Street last session.
In accordance with the data, 13 analysts cover Align Technology Inc. (NASDAQ:ALGN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $375.00 and a low of $160.00, we find $227.50. Given the previous closing price of $191.39, this indicates a potential upside of 18.87 percent. ALGN stock price is now -5.87% away from the 50-day moving average and -34.84% away from the 200-day moving average. The market capitalization of the company currently stands at $15.44B.
It has been rated a hold by 1 analysts and a buy by 9. Brokers who have rated the stock have averaged $241.90 as their price target over the next twelve months.
With the price target reduced from $380 to $250, Goldman Downgraded its rating from Buy to Sell for Align Technology Inc. (NASDAQ: ALGN). On January 31, 2022, UBS Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock reducing its target price from $880 to quote $620, while ‘Morgan Stanley’ rates the stock as ‘Overweight’.
In other news, Thaler Warren S, Director bought 1,050 shares of the company’s stock on Nov 02. The stock was bought for $200,770 at an average price of $191.21. Upon completion of the transaction, the Director now directly owns 30,666 shares in the company, valued at $6.02 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 02, Director Myong Anne bought 1,500 shares of the business’s stock. A total of $285,385 was incurred on buying the stock at an average price of $190.26. This leaves the insider owning 4,794 shares of the company worth $0.94 million. Insiders disposed of 43,815 shares of company stock worth roughly $8.6 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ALGN stock. A new stake in Align Technology Inc. shares was purchased by MARATHON ASSET MANAGEMENT LTD during the first quarter worth $24,272,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $18,509,000 in shares of ALGN during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in Align Technology Inc. valued at approximately $11,711,000. AUREUS ASSET MANAGEMENT, LLC acquired a new stake in ALGN for approximately $11,044,000. DAVIDSON INVESTMENT ADVISORS purchased a new stake in ALGN valued at around $8,837,000 in the second quarter. In total, there are 1,147 active investors with 89.30% ownership of the company’s stock.
Align Technology Inc. (NASDAQ: ALGN) opened at $192.33 on Wednesday. During the past 12 months, Align Technology Inc. has had a low of $172.05 and a high of $688.60. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.40, and a quick ratio of 1.20. The fifty day moving average price for ALGN is $207.51 and a two-hundred day moving average price translates $299.64 for the stock.
The latest earnings results from Align Technology Inc. (NASDAQ: ALGN) was released for Sep, 2022. According to the Medical Devices Company, earnings per share came in at $1.36, missing analysts’ expectations of $2.18 by -0.82. This compares to $2.28 EPS in the same period last year. The net profit margin was 13.20% and return on equity was 14.00% for ALGN. The company reported revenue of $890.35 million for the quarter, compared to $1.02 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -12.36 percent. For the current quarter, analysts expect ALGN to generate $924.87M in revenue.
Align Technology Inc.(ALGN) Company Profile
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. The Clear Aligner segment consists of comprehensive products, including Invisalign comprehensive treatment that addresses the orthodontic needs of teenage 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 seven and ten years, which is a mixture of primary/baby and permanent teeth. This segment’s non-comprehensive products comprise Invisalign moderate, lite and express packages, and Invisalign go; and non-case products include retention products, Invisalign training fees, and sales of ancillary products, such as cleaning material, and adjusting tools used by dental professionals during the course of treatment. The Scanners and Services segment offers iTero scanner, a single hardware platform with software options for restorative or orthodontic procedures; restorative software for general practitioner dentists, prosthodontists, periodontists, and oral surgeons; and software for orthodontists for digital records storage, orthodontic diagnosis, and for the fabrication of printed models and retainers. This segment also provides computer-aided design and computer-aided manufacturing services; ancillary products, such as disposable sleeves for the wand; iTero model and dies; third party scanners and digital scans; Invisalign outcome simulator, a chair-side and cloud-based application for the iTero scanner; Invisalign progress assessment tool; and TimeLapse technology, which allows doctors or practitioners to compare a patient’s historic 3D scans to the present-day scan. The company sells its products in the United States, Switzerland, China, and internationally. Align Technology, Inc. was incorporated in 1997 and is headquartered in Tempe, Arizona.