Align Technology (NASDAQ:ALGN) Given New $250.00 Price Target at Mizuho

Align Technology (NASDAQ:ALGN) had its price target lowered by Mizuho from $295.00 to $250.00 in a research report sent to investors on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the medical equipment provider’s stock.

ALGN has been the subject of several other reports. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Wells Fargo & Company began coverage on shares of Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price on the stock. Jefferies Financial Group cut their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Evercore ISI increased their target price on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $262.64.

Align Technology Stock Performance

Shares of ALGN stock opened at $170.00 on Tuesday. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.24 and a beta of 1.69. The company has a 50-day simple moving average of $197.10 and a two-hundred day simple moving average of $215.77. Align Technology has a 52-week low of $158.13 and a 52-week high of $331.64.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, sell-side analysts forecast that Align Technology will post 7.98 EPS for the current fiscal year.

Institutional Trading of Align Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALGN. True Wealth Design LLC boosted its stake 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 purchasing an additional 107 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Align Technology during the 3rd quarter valued at approximately $32,000. Picton Mahoney Asset Management grew its holdings in shares of Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 58 shares during the period. GKV Capital Management Co. Inc. bought a new position in shares of Align Technology in the 4th quarter worth approximately $31,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Align Technology in the 4th quarter valued at approximately $35,000. 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.