Align Technology (NASDAQ:ALGN) Price Target Raised to $210.00

Align Technology (NASDAQ:ALGN) had its price target hoisted by Leerink Partners from $189.00 to $210.00 in a report released on Thursday,MarketScreener reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

Several other brokerages also recently commented on ALGN. Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price objective (up from $190.00) on shares of Align Technology in a research report on Thursday, October 30th. Stifel Nicolaus set a $200.00 price objective on shares of Align Technology in a research report on Thursday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Finally, Mizuho increased their price target on shares of Align Technology from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $176.82.

Align Technology Price Performance

Shares of ALGN stock opened at $168.73 on Thursday. The company has a fifty day moving average price of $157.96 and a two-hundred day moving average price of $150.43. Align Technology has a one year low of $122.00 and a one year high of $234.39. The stock has a market cap of $12.11 billion, a P/E ratio of 32.70, a P/E/G ratio of 1.90 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company had revenue of $995.69 million for the quarter, compared to analysts’ expectations of $980.75 million. During the same period in the prior year, the firm earned $2.35 EPS. Align Technology’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Align Technology will post 7.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in Align Technology by 298.4% during the fourth quarter. Farther Finance Advisors LLC now owns 761 shares of the medical equipment provider’s stock worth $119,000 after buying an additional 570 shares in the last quarter. Dara Capital US Inc. bought a new stake in shares of Align Technology during the 4th quarter valued at $126,000. Apollon Wealth Management LLC acquired a new stake in shares of Align Technology during the 4th quarter worth $211,000. DDD Partners LLC increased its position in shares of Align Technology by 2.6% in the fourth quarter. DDD Partners LLC now owns 9,466 shares of the medical equipment provider’s stock worth $1,478,000 after purchasing an additional 238 shares during the period. Finally, Jackson Thornton Wealth Management LLC acquired a new position in Align Technology in the fourth quarter valued at about $292,000. 88.43% of the stock is owned by institutional investors.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.