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

Align Technology (NASDAQ:ALGN - Free Report) had its price target decreased by Piper Sandler from $275.00 to $270.00 in a report issued on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the medical equipment provider's stock.

A number of other research firms have also weighed in on ALGN. Robert W. Baird dropped their price target on shares of Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research note on Monday, November 4th. Bank of America increased their price target on Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a research report on Friday, December 13th. Evercore ISI cut their price objective on Align Technology from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Finally, Jefferies Financial Group lowered their target price on Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. One equities 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 given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $271.40.

Align Technology Stock Up 0.7 %

Shares of NASDAQ ALGN traded up $1.50 during midday trading on Thursday, reaching $212.05. 617,283 shares of the company were exchanged, compared to its average volume of 786,908. The stock's 50-day moving average price is $221.25 and its 200-day moving average price is $225.52. The stock has a market cap of $15.83 billion, a P/E ratio of 37.80, a PEG ratio of 4.79 and a beta of 1.67. Align Technology has a one year low of $196.09 and a one year high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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%. On average, equities research analysts anticipate that Align Technology will post 8.09 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC grew its position in shares of Align Technology by 71.5% during the 4th quarter. Natixis Advisors LLC now owns 31,996 shares of the medical equipment provider's stock valued at $6,671,000 after purchasing an additional 13,342 shares in the last quarter. Picton Mahoney Asset Management grew its position in Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after buying an additional 58 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Align Technology by 8.9% in the 4th quarter. First Eagle Investment Management LLC now owns 4,264 shares of the medical equipment provider's stock worth $889,000 after acquiring an additional 350 shares during the last quarter. LBP AM SA purchased a new stake in shares of Align Technology in the 4th quarter valued at about $1,352,000. Finally, Tredje AP fonden boosted its position in shares of Align Technology by 24.0% during the 4th quarter. Tredje AP fonden now owns 95,198 shares of the medical equipment provider's stock valued at $19,850,000 after acquiring an additional 18,423 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.