Piper Sandler Reiterates Overweight Rating for Align Technology (NASDAQ:ALGN)

Align Technology (NASDAQ:ALGN)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Sandler in a research note issued on Tuesday,Benzinga reports. They currently have a $235.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $270.00. Piper Sandler’s target price points to a potential upside of 41.45% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Wells Fargo & Company began coverage on Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 price target for the company. Evercore ISI boosted their price target on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley decreased their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Mizuho began coverage on Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.73.

Align Technology Trading Up 1.0 %

Align Technology stock opened at $166.14 on Tuesday. The business’s fifty day simple moving average is $200.58 and its two-hundred day simple moving average is $217.45. Align Technology has a 12 month low of $158.13 and a 12 month high of $335.40. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS 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%. On average, equities research analysts predict that Align Technology will post 7.98 EPS for the current year.

Institutional Trading of Align Technology

Several hedge funds have recently bought and sold shares of ALGN. True Wealth Design LLC grew its holdings in Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares during the period. Picton Mahoney Asset Management boosted its stake in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 58 shares during the period. GKV Capital Management Co. Inc. bought a new position in shares of Align Technology in the fourth quarter worth about $31,000. Neo Ivy Capital Management bought a new position in shares of Align Technology in the third quarter worth about $32,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Align Technology in the fourth quarter worth about $35,000. 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.