Align Technology (NASDAQ:ALGN) Reaches New 12-Month Low – Should You Sell?

Align Technology, Inc. (NASDAQ:ALGN) shares hit a new 52-week low during trading on Friday . The company traded as low as $196.02 and last traded at $197.13, with a volume of 61358 shares. The stock had previously closed at $198.06.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ALGN shares. Stifel Nicolaus dropped their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Morgan Stanley dropped their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the company from $235.00 to $280.00 in a report on Monday, January 6th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and a consensus target price of $269.91.

Align Technology Stock Performance

The business’s 50 day moving average is $215.95 and its two-hundred day moving average is $224.29. The firm has a market capitalization of $14.17 billion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 2.38 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 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, equities research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Hedge Funds Weigh In On Align Technology

A number of large investors have recently modified their holdings of ALGN. Mackenzie Financial Corp boosted its holdings in Align Technology by 41.1% in the 4th quarter. Mackenzie Financial Corp now owns 9,872 shares of the medical equipment provider’s stock valued at $2,058,000 after purchasing an additional 2,877 shares during the period. Forum Financial Management LP purchased a new position in Align Technology during the fourth quarter worth about $295,000. Wormser Freres Gestion increased its stake in Align Technology by 2.5% in the 4th quarter. Wormser Freres Gestion now owns 24,355 shares of the medical equipment provider’s stock worth $5,108,000 after acquiring an additional 599 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Align Technology by 32.7% in the 4th quarter. Toronto Dominion Bank now owns 32,669 shares of the medical equipment provider’s stock valued at $6,812,000 after acquiring an additional 8,043 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Align Technology during the 4th quarter valued at about $362,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Company Profile

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.