Align Technology, Inc. (NASDAQ:ALGN)‘s stock had its “buy” rating reiterated by research analysts at Northcoast Research in a research report issued on Tuesday. They presently have a $230.00 price objective on the medical equipment provider’s stock, up from their previous price objective of $200.00. Northcoast Research’s price target points to a potential upside of 19.51% from the stock’s previous close. Northcoast Research also issued estimates for Align Technology’s Q3 2017 earnings at $0.82 EPS, FY2017 earnings at $3.42 EPS, Q2 2018 earnings at $1.14 EPS and Q3 2018 earnings at $1.15 EPS.
ALGN has been the subject of several other reports. Bank of America Corporation raised shares of Align Technology from a “neutral” rating to a “buy” rating and upped their price objective for the company from $175.00 to $193.00 in a research note on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 price target (up previously from $200.00) on shares of Align Technology in a research report on Monday, August 7th. Robert W. Baird reiterated a “buy” rating on shares of Align Technology in a research report on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) boosted their price target on shares of Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 15th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $220.00 price target (up previously from $195.00) on shares of Align Technology in a research report on Friday, October 6th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $193.20.
Shares of Align Technology (NASDAQ ALGN) opened at 192.46 on Tuesday. Align Technology has a one year low of $83.27 and a one year high of $193.19. The firm has a market capitalization of $15.43 billion, a P/E ratio of 65.91 and a beta of 1.54. The firm’s 50-day moving average price is $182.92 and its 200-day moving average price is $153.98.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. The firm had revenue of $356.50 million during the quarter, compared to the consensus estimate of $343.43 million. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The company’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. On average, equities analysts forecast that Align Technology will post $3.41 earnings per share for the current year.
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Large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Align Technology during the second quarter valued at approximately $1,768,000. AQR Capital Management LLC grew its holdings in shares of Align Technology by 36.7% during the first quarter. AQR Capital Management LLC now owns 94,715 shares of the medical equipment provider’s stock valued at $10,865,000 after buying an additional 25,422 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Align Technology by 2,236.0% during the second quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock valued at $33,178,000 after buying an additional 211,548 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Align Technology by 17.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 90,969 shares of the medical equipment provider’s stock valued at $13,657,000 after buying an additional 13,753 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Align Technology during the second quarter valued at approximately $9,854,000. Hedge funds and other institutional investors own 81.56% of the company’s stock.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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