Align Technology (NASDAQ:ALGN) Price Target Lowered to $270.00 at Piper Sandler

Align Technology (NASDAQ:ALGN) had its target price decreased by Piper Sandler from $275.00 to $270.00 in a research note released on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the medical equipment provider’s stock.

A number of other equities research analysts also recently commented on the stock. Jefferies Financial Group dropped their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Mizuho began coverage on shares of Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price for the company. Evercore ISI decreased their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Finally, Bank of America increased their price target on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and a consensus price target of $271.40.

Align Technology Trading Up 0.9 %

NASDAQ:ALGN opened at $218.38 on Thursday. The company’s 50-day moving average price is $221.92 and its 200-day moving average price is $226.15. Align Technology has a twelve month low of $196.09 and a twelve month high of $335.40. The company has a market cap of $16.30 billion, a P/E ratio of 37.27, a P/E/G ratio of 4.80 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 11.15% and a return on equity of 13.99%. On average, analysts expect that Align Technology will post 7.47 earnings per share for the current year.

Institutional Investors Weigh In On Align Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Baker Avenue Asset Management LP purchased a new stake in shares of Align Technology during the third quarter worth about $4,250,000. Swedbank AB grew its holdings in shares of Align Technology by 30.1% during the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after buying an additional 90,000 shares in the last quarter. KBC Group NV grew its holdings in shares of Align Technology by 11.8% during the third quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after buying an additional 5,663 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after buying an additional 9,139 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Align Technology by 2.6% during the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock worth $26,900,000 after buying an additional 2,717 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

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.