Align Technology (NASDAQ:ALGN) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Align Technology (NASDAQ:ALGN) in a research report report published on Tuesday,Benzinga reports. They currently have a $235.00 price objective on the medical equipment provider’s stock, down from their previous price objective of $270.00.

Several other brokerages have also recently weighed in on ALGN. Bank of America lifted their price target on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Wells Fargo & Company started coverage on shares of Align Technology in a research note on Friday, February 14th. They set an “overweight” rating and a $255.00 price target on the stock. Morgan Stanley dropped their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.73.

Align Technology Trading Down 3.0 %

NASDAQ:ALGN opened at $164.53 on Tuesday. Align Technology has a 12 month low of $158.13 and a 12 month high of $335.40. The company has a market cap of $12.11 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. The company has a 50 day simple moving average of $201.57 and a two-hundred day simple moving average of $217.81.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Research analysts forecast that Align Technology will post 7.98 earnings per share for the current year.

Institutional Trading of Align Technology

Several hedge funds have recently bought and sold shares of ALGN. CIBC Asset Management Inc lifted its stake in Align Technology by 8.5% in the 3rd quarter. CIBC Asset Management Inc now owns 10,411 shares of the medical equipment provider’s stock worth $2,648,000 after purchasing an additional 812 shares in the last quarter. Natixis Advisors LLC lifted its stake in Align Technology by 21.8% in the 3rd quarter. Natixis Advisors LLC now owns 18,654 shares of the medical equipment provider’s stock worth $4,744,000 after purchasing an additional 3,344 shares in the last quarter. Banque Cantonale Vaudoise lifted its stake in Align Technology by 240.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 6,909 shares of the medical equipment provider’s stock worth $1,757,000 after purchasing an additional 4,878 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Align Technology in the 3rd quarter worth $742,000. Finally, Prospera Private Wealth LLC purchased a new stake in Align Technology in the 3rd quarter worth $114,000. 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.