Align Technology (NASDAQ:ALGN) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Align Technology (NASDAQ:ALGN) in a research note issued to investors on Thursday morning,Benzinga reports.

Other research analysts also recently issued research reports about the stock. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Piper Sandler cut their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday. Jefferies Financial Group cut their target price on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, Robert W. Baird cut their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $271.40.

Align Technology Trading Up 0.9 %

Shares of ALGN stock opened at $218.38 on Thursday. The firm has a market capitalization of $16.30 billion, a P/E ratio of 37.27, a price-to-earnings-growth ratio of 4.80 and a beta of 1.67. The firm’s fifty day simple moving average is $221.92 and its 200 day simple moving average is $226.15. Align Technology has a 1 year low of $196.09 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its 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 return on equity of 13.99% and a net margin of 11.15%. Equities research analysts anticipate that Align Technology will post 7.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Align Technology

Several hedge funds have recently added to or reduced their stakes in ALGN. Baker Avenue Asset Management LP acquired a new stake in shares of Align Technology during the third quarter worth $4,250,000. Swedbank AB grew its position in Align Technology by 30.1% in 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 during the last quarter. KBC Group NV grew its position in Align Technology by 11.8% in 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 during the last quarter. Nordea Investment Management AB grew its position in Align Technology by 3.5% in 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 acquiring an additional 9,139 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Align Technology by 2.6% in 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 period. Institutional investors and hedge funds own 88.43% of the company’s stock.

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.