Align Technology (NASDAQ:ALGN) Price Target Lowered to $330.00 at Piper Sandler

Align Technology (NASDAQ:ALGNFree Report) had its target price cut by Piper Sandler from $375.00 to $330.00 in a research note published on Friday, Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

A number of other research analysts have also issued reports on the stock. SVB Leerink assumed coverage on shares of Align Technology in a research note on Monday, February 26th. They set a market perform rating and a $310.00 price target on the stock. Evercore ISI cut their price target on shares of Align Technology from $370.00 to $300.00 and set an outperform rating on the stock in a research note on Monday, June 10th. Morgan Stanley upped their price target on shares of Align Technology from $344.00 to $360.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Stifel Nicolaus upped their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a buy rating in a research note on Thursday, April 18th. Finally, Robert W. Baird upped their price target on shares of Align Technology from $333.00 to $370.00 and gave the company an outperform rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $346.50.

Read Our Latest Analysis on ALGN

Align Technology Stock Down 2.1 %

NASDAQ ALGN opened at $237.08 on Friday. The firm has a market cap of $17.85 billion, a PE ratio of 39.06, a price-to-earnings-growth ratio of 4.49 and a beta of 1.62. The company has a 50 day moving average price of $271.53 and a 200 day moving average price of $283.55. Align Technology has a 52 week low of $176.34 and a 52 week high of $413.20.

Align Technology (NASDAQ:ALGNGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.54 by $0.08. The firm had revenue of $997.43 million during the quarter, compared to analyst estimates of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. On average, equities research analysts anticipate that Align Technology will post 7.86 earnings per share for the current fiscal year.

Institutional Trading of Align Technology

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Align Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock worth $2,746,378,000 after buying an additional 25,362 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Align Technology by 41.4% during the fourth quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock worth $413,488,000 after buying an additional 441,754 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Align Technology by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 1,132,742 shares of the medical equipment provider’s stock worth $371,449,000 after buying an additional 11,800 shares in the last quarter. Morgan Stanley boosted its holdings in Align Technology by 9.8% during the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after buying an additional 90,581 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Align Technology by 2.7% during the third quarter. Northern Trust Corp now owns 831,469 shares of the medical equipment provider’s stock worth $253,864,000 after buying an additional 21,490 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

About Align Technology

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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.

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