Align Technology (NASDAQ:ALGN) Price Target Raised to $206.00

Align Technology (NASDAQ:ALGN) had its price objective lifted by Bank of America from $200.00 to $206.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an underperform rating on the medical equipment provider’s stock.

A number of other research analysts have also commented on the company. Morgan Stanley cut their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Piper Sandler reduced their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Mizuho initiated coverage on shares of Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price on the stock. Evercore ISI dropped their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird decreased their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $271.20.

Align Technology Price Performance

NASDAQ ALGN opened at $235.39 on Friday. The company’s fifty day moving average is $224.11 and its two-hundred day moving average is $234.17. Align Technology has a 52-week low of $196.09 and a 52-week high of $335.40. The firm has a market capitalization of $17.57 billion, a price-to-earnings ratio of 40.17, a P/E/G ratio of 6.20 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 earnings per share. As a group, sell-side analysts expect that Align Technology will post 7.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Align Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of ALGN. Exome Asset Management LLC acquired a new stake in Align Technology in the 3rd quarter valued at about $4,756,000. Oddo BHF Asset Management Sas bought a new stake in shares of Align Technology during the third quarter valued at approximately $747,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Align Technology in the third quarter valued at approximately $78,000. Virtue Capital Management LLC bought a new position in Align Technology in the 3rd quarter worth approximately $203,000. Finally, Neo Ivy Capital Management acquired a new position in Align Technology during the 3rd quarter worth $32,000. 88.43% of the stock is owned by institutional investors and hedge funds.

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.