Align Technology (NASDAQ:ALGN) Given New $330.00 Price Target at Piper Sandler

Align Technology (NASDAQ:ALGN) had its price objective decreased by Piper Sandler from $375.00 to $330.00 in a research note issued to investors on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the medical equipment provider’s stock.

Other research analysts have also recently issued reports about the stock. Leerink Partnrs reaffirmed a market perform rating on shares of Align Technology in a research report on Monday, February 26th. Stifel Nicolaus lifted their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a buy rating in a research report on Thursday, April 18th. SVB Leerink initiated coverage on shares of Align Technology in a research report on Monday, February 26th. They set a market perform rating and a $310.00 price target on the stock. OTR Global reissued a mixed rating on shares of Align Technology in a research report on Tuesday, June 4th. Finally, UBS Group boosted their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a neutral rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Align Technology has a consensus rating of Moderate Buy and an average price target of $346.50.

Align Technology Stock Performance

ALGN opened at $242.19 on Friday. The company’s 50 day simple moving average is $272.89 and its 200 day simple moving average is $282.47. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20. The stock has a market capitalization of $18.23 billion, a PE ratio of 39.90, a P/E/G ratio of 4.48 and a beta of 1.62.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The firm had revenue of $997.43 million for the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. As a group, sell-side analysts expect that Align Technology will post 7.86 earnings per share for the current fiscal year.

Institutional Trading of Align Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Moody National Bank Trust Division increased its stake in shares of Align Technology by 1.8% in the first quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock worth $691,000 after buying an additional 38 shares during the last quarter. EFG Asset Management Americas Corp. increased its stake in shares of Align Technology by 3.6% in the fourth quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock worth $320,000 after buying an additional 41 shares during the last quarter. Dfpg Investments LLC increased its stake in shares of Align Technology by 3.3% in the fourth quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock worth $340,000 after buying an additional 42 shares during the last quarter. Richard W. Paul & Associates LLC increased its stake in shares of Align Technology by 2.8% in the fourth quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock worth $457,000 after buying an additional 45 shares during the last quarter. Finally, Valley National Advisers Inc. increased its stake in shares of Align Technology by 29.7% in the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after buying an additional 49 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.