Align Technology (NASDAQ:ALGN) Now Covered by Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Align Technology (NASDAQ:ALGN) in a report released on Friday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $255.00 price objective on the medical equipment provider’s stock.

Other equities analysts have also issued reports about the company. Stifel Nicolaus cut their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Mizuho assumed coverage on Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. Robert W. Baird cut their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Jefferies Financial Group cut their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Trading Up 0.9 %

Shares of ALGN stock opened at $206.77 on Friday. The business’s 50-day moving average price is $219.29 and its 200-day moving average price is $225.07. Align Technology has a 12 month low of $196.09 and a 12 month high of $335.40. The firm has a market capitalization of $15.44 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 4.79 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, sell-side analysts predict that Align Technology will post 8.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Align Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Baker Avenue Asset Management LP bought a new stake in shares of Align Technology during the third quarter valued at approximately $4,250,000. Swedbank AB increased its holdings in shares of Align Technology by 30.1% during the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock valued at $98,960,000 after acquiring an additional 90,000 shares in the last quarter. KBC Group NV increased its holdings in shares of Align Technology by 11.8% during the third quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock valued at $13,595,000 after acquiring an additional 5,663 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after buying an additional 9,139 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Align Technology by 2.6% during the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after buying an additional 2,717 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

About Align Technology

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.