Morgan Stanley Lowers Align Technology (NASDAQ:ALGN) Price Target to $272.00

Align Technology (NASDAQ:ALGN) had its price target reduced by equities research analysts at Morgan Stanley from $280.00 to $272.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s target price suggests a potential upside of 29.19% from the company’s current price.

ALGN has been the topic of a number of other research reports. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Stifel Nicolaus cut their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Bank of America lifted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Finally, Piper Sandler dropped their price objective on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average target price of $271.40.

Align Technology Stock Down 3.6 %

NASDAQ:ALGN opened at $210.55 on Thursday. The firm has a market capitalization of $15.72 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 4.80 and a beta of 1.67. Align Technology has a twelve month low of $196.09 and a twelve month high of $335.40. The stock’s 50 day moving average price is $221.70 and its two-hundred day moving average price is $226.10.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.99% and a net margin of 11.15%. As a group, analysts anticipate that Align Technology will post 7.47 earnings per share for the current year.

Hedge Funds Weigh In On Align Technology

A number of hedge funds have recently bought and sold shares of the business. True Wealth Design LLC boosted its holdings in Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Align Technology in the third quarter valued at approximately $32,000. Private Trust Co. NA boosted its stake in shares of Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 93 shares during the period. CVA Family Office LLC grew its position in Align Technology by 85.2% during the third quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 69 shares in the last quarter. Finally, Mather Group LLC. increased its stake in Align Technology by 51.6% during the 3rd quarter. Mather Group LLC. now owns 185 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 63 shares during the period. 88.43% of the stock is owned by institutional investors.

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.