Analysts Set Align Technology, Inc. (NASDAQ:ALGN) PT at $246.17

Align Technology, Inc. (NASDAQ:ALGN) has earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $241.25.

A number of research firms recently issued reports on ALGN. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Piper Sandler reiterated an “overweight” rating and issued a $250.00 price objective (up from $235.00) on shares of Align Technology in a research report on Thursday. HSBC cut shares of Align Technology from a “buy” rating to a “hold” rating and reduced their target price for the stock from $290.00 to $170.00 in a research note on Friday, April 25th. 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. Finally, Hsbc Global Res downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Picton Mahoney Asset Management increased its stake 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 valued at $30,000 after acquiring an additional 58 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new position in shares of Align Technology in the 4th quarter worth $31,000. Compagnie Lombard Odier SCmA purchased a new stake in Align Technology during the first quarter valued at about $32,000. Aster Capital Management DIFC Ltd acquired a new stake in Align Technology during the fourth quarter worth about $35,000. Finally, Center for Financial Planning Inc. acquired a new position in shares of Align Technology in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Up 2.0 %

Shares of Align Technology stock opened at $176.74 on Tuesday. Align Technology has a 52 week low of $141.74 and a 52 week high of $295.69. The firm’s 50 day moving average is $168.56 and its two-hundred day moving average is $201.39. The firm has a market capitalization of $12.94 billion, a P/E ratio of 31.50, a P/E/G ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.13. Align Technology had a return on equity of 13.84% and a net margin of 10.54%. The business had revenue of $979.26 million for the quarter, compared to analysts’ expectations of $977.90 million. During the same quarter in the previous year, the firm earned $2.14 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. As a group, research analysts expect that Align Technology will post 7.98 earnings per share for the current fiscal year.

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.