Align Technology (NASDAQ:ALGN) Rating Reiterated by Piper Sandler

Align Technology (NASDAQ:ALGN)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Sandler in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $330.00 price target on the medical equipment provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 28.76% from the stock’s current price.

ALGN has been the topic of a number of other reports. Stifel Nicolaus raised 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. Morgan Stanley lifted their price objective on shares of Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Evercore ISI lowered their price objective on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Finally, Robert W. Baird lifted their price objective on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $346.50.

Align Technology Trading Up 2.9 %

NASDAQ:ALGN opened at $256.30 on Wednesday. Align Technology has a 12 month low of $176.34 and a 12 month high of $413.20. The stock has a market capitalization of $19.29 billion, a price-to-earnings ratio of 42.22, a PEG ratio of 4.61 and a beta of 1.66. The firm has a fifty day simple moving average of $256.81 and a two-hundred day simple moving average of $282.63.

Align Technology (NASDAQ:ALGN) last released 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. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The company had revenue of $997.43 million for the quarter, compared to analyst estimates of $971.97 million. Equities analysts predict that Align Technology will post 7.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Align Technology

Several large investors have recently modified their holdings of the business. Mather Group LLC. purchased a new position in Align Technology during the first quarter valued at approximately $26,000. LRI Investments LLC purchased a new position in Align Technology during the first quarter valued at approximately $29,000. Versant Capital Management Inc grew its stake in Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 93 shares in the last quarter. Crewe Advisors LLC purchased a new position in Align Technology during the first quarter valued at approximately $41,000. Finally, Trust Co. of Vermont purchased a new position in Align Technology during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors 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.