Align Technology (NASDAQ:ALGN) Earns “Overweight” Rating from Piper Sandler

Align Technology (NASDAQ:ALGN)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a report issued on Tuesday,Benzinga reports. They currently have a $235.00 price target on the medical equipment provider’s stock, down from their prior price target of $270.00. Piper Sandler’s price target suggests a potential upside of 43.35% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Wells Fargo & Company began coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective for the company. Finally, Evercore ISI increased their target price on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.73.

Align Technology Trading Down 3.3 %

Shares of NASDAQ ALGN traded down $5.66 during mid-day trading on Tuesday, hitting $163.93. The company had a trading volume of 353,533 shares, compared to its average volume of 785,946. Align Technology has a one year low of $158.13 and a one year high of $335.40. The company has a market capitalization of $12.07 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. The firm has a 50-day simple moving average of $202.63 and a two-hundred day simple moving average of $218.32.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Sell-side analysts expect that Align Technology will post 7.98 earnings per share for the current fiscal year.

Institutional Trading of Align Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its holdings in Align Technology by 8.5% during the 3rd quarter. CIBC Asset Management Inc now owns 10,411 shares of the medical equipment provider’s stock worth $2,648,000 after buying an additional 812 shares during the period. Natixis Advisors LLC boosted its position in Align Technology by 21.8% during the third quarter. Natixis Advisors LLC now owns 18,654 shares of the medical equipment provider’s stock valued at $4,744,000 after buying an additional 3,344 shares during the period. Banque Cantonale Vaudoise raised its stake in Align Technology by 240.2% in the third quarter. Banque Cantonale Vaudoise now owns 6,909 shares of the medical equipment provider’s stock worth $1,757,000 after buying an additional 4,878 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Align Technology during the third quarter valued at approximately $742,000. Finally, Prospera Private Wealth LLC purchased a new stake in Align Technology in the third quarter worth approximately $114,000. 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.