ValuEngine downgraded shares of Align Technology (NASDAQ:ALGN) from a hold rating to a sell rating in a research note published on Friday, ValuEngine reports.

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. Bank of America lowered TAL Education Group from a buy rating to a neutral rating in a report on Thursday. Credit Suisse Group reissued a buy rating and set a $425.00 price objective on shares of Boeing in a report on Thursday. Wolfe Research started coverage on Waters in a report on Thursday, May 30th. They set an underperform rating for the company. Finally, UBS Group reissued a hold rating and set a $7.80 price objective on shares of Deutsche Bank in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $297.91.

Shares of NASDAQ ALGN opened at $198.84 on Friday. The firm’s fifty day moving average price is $282.57. Align Technology has a 1-year low of $177.93 and a 1-year high of $398.88. The company has a market capitalization of $15.91 billion, a price-to-earnings ratio of 40.41, a price-to-earnings-growth ratio of 1.56 and a beta of 1.98. The company has a current ratio of 1.85, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.13. Align Technology had a return on equity of 29.26% and a net margin of 19.06%. The business had revenue of $600.70 million during the quarter, compared to analyst estimates of $599.86 million. During the same period in the prior year, the company earned $1.30 earnings per share. Align Technology’s revenue was up 22.5% compared to the same quarter last year. On average, equities research analysts anticipate that Align Technology will post 5.24 earnings per share for the current fiscal year.

In other Align Technology news, CMO Raphael Pascaud sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $326.18, for a total transaction of $4,892,700.00. Following the sale, the chief marketing officer now owns 34,092 shares in the company, valued at $11,120,128.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Julie Tay sold 3,560 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $325.00, for a total value of $1,157,000.00. The disclosure for this sale can be found here. Insiders have sold 55,283 shares of company stock valued at $17,483,871 in the last three months. 1.30% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. purchased a new position in shares of Align Technology in the first quarter worth about $28,000. Harvest Group Wealth Management LLC purchased a new position in shares of Align Technology in the first quarter worth about $28,000. Larson Financial Group LLC increased its holdings in shares of Align Technology by 588.2% in the first quarter. Larson Financial Group LLC now owns 117 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 100 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Align Technology by 110.0% in the first quarter. Lindbrook Capital LLC now owns 126 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 66 shares during the period. Finally, Avestar Capital LLC increased its holdings in shares of Align Technology by 687.5% in the first quarter. Avestar Capital LLC now owns 126 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

About Align Technology

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. 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 compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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