Align Technology (NASDAQ:ALGN) Stock Rating Upgraded by Leerink Partners

Align Technology (NASDAQ:ALGN) was upgraded by equities researchers at Leerink Partners from a “market perform” rating to an “outperform” rating in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a $280.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $235.00. Leerink Partners’ price objective points to a potential upside of 34.45% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Bank of America lifted their price target on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Robert W. Baird dropped 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. Morgan Stanley cut their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Mizuho began coverage on Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. Finally, Stifel Nicolaus cut their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $268.20.

Align Technology Stock Down 0.1 %

Shares of NASDAQ ALGN opened at $208.26 on Monday. The company has a market capitalization of $15.55 billion, a PE ratio of 35.54, a PEG ratio of 6.20 and a beta of 1.66. The stock’s 50 day moving average price is $221.73 and its 200-day moving average price is $229.81. Align Technology has a twelve month low of $196.09 and a twelve month high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm posted $1.62 EPS. As a group, research analysts expect that Align Technology will post 7.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Align Technology

Large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its holdings in shares of Align Technology by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after acquiring an additional 9,139 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 157 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Align Technology by 2.7% in the third quarter. Principal Financial Group Inc. now owns 82,020 shares of the medical equipment provider’s stock worth $20,859,000 after purchasing an additional 2,168 shares during the last quarter. Exome Asset Management LLC purchased a new stake in Align Technology in the third quarter valued at approximately $4,756,000. Finally, Oddo BHF Asset Management Sas bought a new stake in Align Technology during the third quarter valued at approximately $747,000. Institutional investors own 88.43% of the company’s stock.

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.