Align Technology (NASDAQ:ALGN - Get Free Report) had its price target reduced by stock analysts at Morgan Stanley from $280.00 to $272.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the medical equipment provider's stock. Morgan Stanley's target price would indicate a potential upside of 28.28% from the company's previous close.
A number of other research firms have also issued reports on ALGN. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research note on Thursday. Piper Sandler cut their price target on Align Technology from $275.00 to $270.00 and set an "overweight" rating on the stock in a research note on Thursday. Leerink Partnrs upgraded Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Jefferies Financial Group decreased their target price on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Finally, Bank of America raised their target price 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $271.40.
Read Our Latest Analysis on ALGN
Align Technology Price Performance
NASDAQ:ALGN traded up $1.48 on Thursday, reaching $212.03. The stock had a trading volume of 905,707 shares, compared to its average volume of 788,874. The firm's fifty day moving average is $221.25 and its two-hundred day moving average is $225.52. Align Technology has a 12-month low of $196.09 and a 12-month high of $335.40. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 4.79 and a beta of 1.67.
Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data 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 forecast that Align Technology will post 8.09 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGN. Wellington Management Group LLP increased its stake in Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider's stock valued at $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Align Technology by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider's stock valued at $443,810,000 after acquiring an additional 21,605 shares during the period. FMR LLC lifted its position in shares of Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider's stock valued at $310,736,000 after buying an additional 367,508 shares in the last quarter. Ninety One UK Ltd increased its stake in shares of Align Technology by 3.7% during the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider's stock worth $254,508,000 after purchasing an additional 43,524 shares in the last quarter. Finally, Meridiem Investment Management Ltd. lifted its stake in shares of Align Technology by 63.7% in the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider's stock worth $159,470,000 after buying an additional 297,472 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.
About Align Technology
(
Get Free Report)
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.
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