Align Technology (NASDAQ:ALGN) Price Target Raised to $169.00

Align Technology (NASDAQ:ALGNFree Report) had its target price raised by Morgan Stanley from $154.00 to $169.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the medical equipment provider’s stock.

A number of other analysts have also recently commented on ALGN. Evercore cut their target price on Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. UBS Group lifted their price target on Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday. Stifel Nicolaus set a $200.00 price objective on Align Technology in a report on Thursday, October 30th. Leerink Partners lifted their target price on shares of Align Technology from $189.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Finally, HSBC increased their price target on shares of Align Technology from $140.00 to $150.00 in a research note on Friday, October 31st. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Align Technology currently has an average rating of “Hold” and an average price target of $195.92.

View Our Latest Analysis on ALGN

Align Technology Trading Up 6.8%

ALGN stock opened at $187.60 on Thursday. The stock has a market cap of $13.46 billion, a P/E ratio of 33.14, a PEG ratio of 2.10 and a beta of 1.84. Align Technology has a twelve month low of $122.00 and a twelve month high of $224.18. The company’s 50 day moving average is $163.26 and its two-hundred day moving average is $148.45.

Align Technology (NASDAQ:ALGNGet Free Report) last posted its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.03 billion. During the same period last year, the firm posted $2.44 EPS. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Align Technology will post 7.98 earnings per share for the current year.

Hedge Funds Weigh In On Align Technology

A number of large investors have recently bought and sold shares of ALGN. Sentry Investment Management LLC lifted its stake in shares of Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 79 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new position in Align Technology during the third quarter worth about $26,000. Rothschild Investment LLC lifted its position in Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares during the period. True Wealth Design LLC boosted its holdings in Align Technology by 7,650.0% in the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 153 shares in the last quarter. Finally, Independence Bank of Kentucky increased its position in Align Technology by 77.7% during the 4th quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Key Stories Impacting Align Technology

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Align Technology Company Profile

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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.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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