Align Technology (NASDAQ:ALGN) PT Lowered to $275.00

Align Technology (NASDAQ:ALGN) had its price objective lowered by Stifel Nicolaus from $285.00 to $275.00 in a research note published on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical equipment provider’s stock.

ALGN has been the subject of several other research reports. Piper Sandler decreased their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Robert W. Baird reduced their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday. Morgan Stanley cut their price target on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, Evercore ISI reduced their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Align Technology currently has an average rating of “Hold” and a consensus target price of $276.38.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $216.42 on Thursday. The company has a market cap of $16.29 billion, a price-to-earnings ratio of 35.65, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64. The stock’s 50-day moving average is $234.20 and its two-hundred day moving average is $250.96. Align Technology has a 1-year low of $176.34 and a 1-year high of $335.40.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 earnings per share. Equities research analysts anticipate that Align Technology will post 7.61 earnings per share for the current fiscal year.

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. bought 6,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the purchase, the director now directly owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALGN. Cullen Frost Bankers Inc. lifted its holdings in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 94 shares during the period. Innealta Capital LLC bought a new position in shares of Align Technology in the second quarter valued at approximately $26,000. Rothschild Investment LLC acquired a new position in shares of Align Technology during the second quarter valued at approximately $26,000. Versant Capital Management Inc raised its holdings in Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 93 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Align Technology in the first quarter worth approximately $29,000. 88.43% of the stock is 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.