Brokerages Set Align Technology, Inc. (NASDAQ:ALGN) Price Target at $276.38

Align Technology, Inc. (NASDAQ:ALGN) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $276.38.

A number of research analysts recently weighed in on the stock. Evercore ISI decreased their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research 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 for the company in a report on Thursday, October 24th. Morgan Stanley lowered their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus reduced their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird lowered their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

Hedge Funds Weigh In On Align Technology

Several large investors have recently modified their holdings of the stock. LRI Investments LLC acquired a new stake in Align Technology during the 1st quarter worth approximately $29,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 94 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Align Technology in the second quarter valued at about $26,000. True Wealth Design LLC grew its stake in shares of Align Technology by 10,700.0% in the third 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 in the last quarter. Finally, Innealta Capital LLC bought a new position in Align Technology during the second quarter worth about $26,000. 88.43% of the stock is owned by institutional investors.

Align Technology Price Performance

Shares of Align Technology stock opened at $234.14 on Friday. The firm has a market cap of $17.48 billion, a price-to-earnings ratio of 39.96, a price-to-earnings-growth ratio of 6.03 and a beta of 1.65. Align Technology has a one year low of $196.09 and a one year high of $335.40. The stock’s 50-day moving average is $226.43 and its 200-day moving average is $236.00.

Align Technology (NASDAQ:ALGN) last released its quarterly 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. The firm had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 EPS. On average, equities analysts expect that Align Technology will post 7.45 EPS for the current 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.