Align Technology (NASDAQ:ALGN) Price Target Raised to $225.00

Align Technology (NASDAQ:ALGNFree Report) had its target price lifted by Leerink Partners from $210.00 to $225.00 in a research note released on Thursday,MarketScreener reports. They currently have an outperform rating on the medical equipment provider’s stock.

ALGN has been the subject of a number of other research reports. Morgan Stanley increased their target price on Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday. HSBC increased their price objective on shares of Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. Jefferies Financial Group lifted their price objective on shares of Align Technology from $140.00 to $155.00 in a research note on Thursday, October 30th. Stifel Nicolaus upped their target price on shares of Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Align Technology has an average rating of “Hold” and a consensus price target of $195.92.

Check Out Our Latest Stock Report on ALGN

Align Technology Stock Up 6.8%

Align Technology stock opened at $187.60 on Thursday. The firm has a fifty day moving average of $163.26 and a 200-day moving average of $148.45. 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 PEG ratio of 2.10 and a beta of 1.84.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, topping 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 during 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 firm’s revenue was up 5.3% on a year-over-year basis. On average, research analysts expect that Align Technology will post 7.98 EPS for the current fiscal year.

Institutional Trading of Align Technology

Institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors increased its holdings in Align Technology by 88.6% in the third quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider’s stock valued at $381,968,000 after buying an additional 1,433,393 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Align Technology in the 3rd quarter worth approximately $179,035,000. Norges Bank acquired a new position in shares of Align Technology in the 2nd quarter worth approximately $155,297,000. Bank of America Corp DE increased its holdings in shares of Align Technology by 72.0% in the 3rd quarter. Bank of America Corp DE now owns 1,353,125 shares of the medical equipment provider’s stock valued at $169,438,000 after acquiring an additional 566,488 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Align Technology by 35,513.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider’s stock valued at $85,196,000 after acquiring an additional 544,072 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

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About Align Technology

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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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