Align Technology (NASDAQ:ALGN) Given New $272.00 Price Target at Morgan Stanley

Align Technology (NASDAQ:ALGN) had its price target cut by Morgan Stanley from $280.00 to $272.00 in a research report report published on Thursday,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

Several other brokerages have also commented on ALGN. Piper Sandler dropped their price target on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research note on Thursday. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and increased their target price for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Mizuho began coverage on Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price for the company. 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 report on Friday, December 13th. Finally, Robert W. Baird reduced their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $271.40.

Align Technology Stock Performance

ALGN opened at $218.38 on Thursday. Align Technology has a one year low of $196.09 and a one year high of $335.40. The business’s fifty day moving average is $221.92 and its two-hundred day moving average is $226.15. The company has a market cap of $16.30 billion, a price-to-earnings ratio of 37.27, a PEG ratio of 4.80 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 11.15% and a return on equity of 13.99%. On average, analysts predict that Align Technology will post 7.47 EPS for the current fiscal year.

Institutional Trading of Align Technology

Several large investors have recently added to or reduced their stakes in the business. Empirical Finance LLC increased its position in Align Technology by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after acquiring an additional 50 shares during the period. Lake Street Advisors Group LLC increased 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 during the period. Crestwood Advisors Group LLC boosted its stake in shares of Align Technology by 6.6% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider’s stock worth $254,000 after acquiring an additional 62 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Align Technology by 51.6% during the 3rd quarter. Mather Group LLC. now owns 185 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 63 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Align Technology by 9.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock worth $158,000 after acquiring an additional 64 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

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.