Mizuho Cuts Align Technology (NASDAQ:ALGN) Price Target to $250.00

Align Technology (NASDAQ:ALGN) had its price objective decreased by equities researchers at Mizuho from $295.00 to $250.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Mizuho’s price target indicates a potential upside of 46.74% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Bank of America increased their price target on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler restated an “overweight” rating and issued a $235.00 price target (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and an average price target of $262.64.

Align Technology Stock Up 1.0 %

Shares of ALGN opened at $170.37 on Tuesday. Align Technology has a 52-week low of $158.13 and a 52-week high of $331.64. The company has a market cap of $12.54 billion, a PE ratio of 30.37, a P/E/G ratio of 2.24 and a beta of 1.69. The business has a fifty day moving average of $197.91 and a 200 day moving average of $216.13.

Align Technology (NASDAQ:ALGN) last released 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 return on equity of 13.84% and a net margin of 10.54%. As a group, research analysts anticipate that Align Technology will post 7.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Align Technology

Large investors have recently bought and sold shares of the business. Commerce Bank lifted its stake in shares of Align Technology by 47.0% during the 3rd quarter. Commerce Bank now owns 3,381 shares of the medical equipment provider’s stock worth $860,000 after purchasing an additional 1,081 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Align Technology by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 448,028 shares of the medical equipment provider’s stock worth $113,942,000 after purchasing an additional 10,887 shares in the last quarter. Algert Global LLC lifted its position in shares of Align Technology by 46.7% during the third quarter. Algert Global LLC now owns 2,022 shares of the medical equipment provider’s stock valued at $514,000 after buying an additional 644 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Align Technology by 10.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 9,804 shares of the medical equipment provider’s stock valued at $2,493,000 after buying an additional 928 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Align Technology by 2.6% in the 3rd 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 during the last quarter. Institutional investors own 88.43% of the company’s stock.

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.