Jefferies Financial Group Forecasts Strong Price Appreciation for Align Technology (NASDAQ:ALGN) Stock

Align Technology (NASDAQ:ALGNGet Free Report) had its price objective lifted by research analysts at Jefferies Financial Group from $155.00 to $185.00 in a research note issued on Thursday,MarketScreener reports. The brokerage currently has a “hold” rating on the medical equipment provider’s stock. Jefferies Financial Group’s price objective indicates a potential downside of 1.39% from the stock’s previous close.

Several other research firms have also issued reports on ALGN. Stifel Nicolaus raised their price objective on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday. HSBC increased their price target on Align Technology from $140.00 to $150.00 in a report on Friday, October 31st. Leerink Partners raised their price target on Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley boosted their price objective on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Wells Fargo & Company increased their target price on shares of Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $195.58.

View Our Latest Report on Align Technology

Align Technology Stock Up 6.8%

ALGN stock opened at $187.60 on Thursday. Align Technology has a 52 week low of $122.00 and a 52 week high of $224.18. The firm has a market capitalization of $13.46 billion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 1.97 and a beta of 1.84. The company has a fifty day simple moving average of $163.26 and a two-hundred day simple moving average of $148.77.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $2.44 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Align Technology will post 7.98 EPS for the current year.

Hedge Funds Weigh In On Align Technology

Several institutional investors have recently made changes to their positions in ALGN. Wealth Enhancement Advisory Services LLC boosted its holdings in Align Technology by 38.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,551 shares of the medical equipment provider’s stock valued at $2,029,000 after purchasing an additional 4,359 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of Align Technology in the 3rd quarter valued at about $650,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of Align Technology in the third quarter worth about $3,156,000. QRG Capital Management Inc. acquired a new stake in Align Technology during the second quarter worth about $306,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Align Technology in the third quarter valued at approximately $1,327,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Key Headlines Impacting Align Technology

Here are the key news stories impacting Align Technology this week:

Align Technology Company Profile

(Get Free Report)

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.

See Also

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.