Analysts Set Align Technology, Inc. (NASDAQ:ALGN) Price Target at $271.20

Align Technology, Inc. (NASDAQ:ALGN) has been given an average rating of “Hold” by the twelve research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $271.20.

Several equities analysts recently commented on the stock. Morgan Stanley reduced their target price on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Piper Sandler decreased their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Robert W. Baird lowered their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Mizuho began coverage on Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company.

Hedge Funds Weigh In On Align Technology

A number of institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. raised its holdings in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 94 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Align Technology in the 2nd quarter worth about $26,000. True Wealth Design LLC lifted its position in 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 acquiring an additional 107 shares during the period. Innealta Capital LLC bought a new stake in Align Technology during the second quarter worth about $26,000. Finally, Neo Ivy Capital Management purchased a new stake in Align Technology in the third quarter worth about $32,000. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Down 1.9 %

NASDAQ ALGN opened at $211.43 on Wednesday. The stock’s 50-day simple moving average is $222.34 and its two-hundred day simple moving average is $231.33. Align Technology has a twelve month low of $196.09 and a twelve month high of $335.40. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 6.20 and a beta of 1.66.

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

About Align Technology

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.