Analysts Set Align Technology, Inc. (NASDAQ:ALGN) PT at $268.20

Align Technology, Inc. (NASDAQ:ALGN - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $268.20.

Several equities analysts have issued reports on the company. 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 note on Thursday, October 24th. Morgan Stanley cut their target price on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Piper Sandler decreased their price target on shares of Align Technology from $285.00 to $275.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus cut their price objective on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Finally, Mizuho assumed coverage on Align Technology in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $295.00 target price for the company.

Hedge Funds Weigh In On Align Technology

Several hedge funds have recently modified their holdings of ALGN. Quarry LP boosted its holdings in shares of Align Technology by 53.0% in the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider's stock worth $31,000 after buying an additional 44 shares during the last quarter. Empirical Finance LLC increased its position in shares of Align Technology by 2.1% during the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider's stock valued at $632,000 after buying an additional 50 shares during the period. Lake Street Advisors Group LLC grew its position in shares of Align Technology by 5.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider's stock valued at $265,000 after purchasing an additional 55 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Align Technology by 8.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 687 shares of the medical equipment provider's stock valued at $166,000 after acquiring an additional 56 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its stake in Align Technology by 6.6% in the 3rd quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider's stock worth $254,000 after buying an additional 62 shares in the last quarter. Institutional investors own 88.43% of the company's stock.

Align Technology Stock Up 2.4 %

Shares of NASDAQ ALGN traded up $5.32 during trading on Friday, reaching $224.23. The company had a trading volume of 670,068 shares, compared to its average volume of 592,980. The stock has a market cap of $16.74 billion, a P/E ratio of 38.26, a PEG ratio of 4.64 and a beta of 1.67. The company's fifty day moving average price is $222.11 and its 200-day moving average price is $228.19. Align Technology has a 12 month low of $196.09 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 EPS. As a group, equities analysts predict that Align Technology will post 7.44 earnings per share for the current year.

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.