Align Technology (NASDAQ:ALGN) Receives Overweight Rating from Piper Sandler

Align Technology (NASDAQ:ALGN)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a report released on Tuesday,Benzinga reports. They presently have a $235.00 price objective on the medical equipment provider’s stock, down from their previous price objective of $270.00. Piper Sandler’s price target would indicate a potential upside of 41.45% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Bank of America upped their price objective on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Morgan Stanley decreased their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Mizuho began coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective on the stock. Evercore ISI upped their price objective on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company began coverage on Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and a consensus price target of $266.73.

Align Technology Trading Up 1.0 %

Shares of Align Technology stock opened at $166.14 on Tuesday. The stock has a 50 day moving average of $200.58 and a 200 day moving average of $217.45. Align Technology has a 12 month low of $158.13 and a 12 month high of $335.40. The firm has a market cap of $12.23 billion, a PE ratio of 29.61, a PEG ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, equities research analysts forecast that Align Technology will post 7.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. True Wealth Design LLC increased its holdings in Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares during the period. Neo Ivy Capital Management purchased a new position in Align Technology during the 3rd quarter worth $32,000. Picton Mahoney Asset Management increased its holdings in Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 58 shares during the period. GKV Capital Management Co. Inc. purchased a new position in Align Technology during the 4th quarter worth $31,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Align Technology during the 4th quarter worth $35,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

About Align Technology

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.