Analysts Set Align Technology, Inc. (NASDAQ:ALGN) Target Price at $268.20

Shares of Align Technology, Inc. (NASDAQ:ALGN) have received an average rating of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $268.20.

A number of research analysts recently commented on ALGN shares. Mizuho initiated coverage on Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price on the stock. 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. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler reduced their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Monday, November 4th.

Align Technology Stock Up 1.7 %

Align Technology stock opened at $228.00 on Friday. Align Technology has a 52 week low of $196.09 and a 52 week high of $335.40. The company’s 50 day moving average price is $222.09 and its two-hundred day moving average price is $227.95. The stock has a market cap of $17.02 billion, a P/E ratio of 38.91, a P/E/G ratio of 4.91 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same quarter in the previous year, the firm posted $1.62 EPS. Align Technology’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts anticipate that Align Technology will post 7.48 EPS for the current year.

Hedge Funds Weigh In On Align Technology

Several institutional investors have recently added to or reduced their stakes in ALGN. True Wealth Design LLC raised its position in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 107 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Align Technology during the second quarter worth approximately $31,000. Quarry LP raised its position in Align Technology by 53.0% during the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 44 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Align Technology in the 3rd quarter valued at approximately $32,000. Finally, CVA Family Office LLC boosted its holdings in shares of Align Technology by 85.2% in the 3rd quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 69 shares during the period. 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.