Align Technology (NASDAQ:ALGN) Stock Price Expected to Rise, Leerink Partners Analyst Says

Align Technology (NASDAQ:ALGNGet Free Report) had its price target increased by equities researchers at Leerink Partners from $210.00 to $225.00 in a report issued on Thursday,MarketScreener reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Leerink Partners’ target price indicates a potential upside of 19.94% from the stock’s current price.

Several other research firms have also recently commented on ALGN. Evercore boosted their price target on shares of Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Stifel Nicolaus boosted their target price on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday. HSBC increased their target price on Align Technology from $140.00 to $150.00 in a report on Friday, October 31st. Morgan Stanley lifted their price target on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Barclays began coverage on Align Technology in a research report on Monday, December 8th. They set an “equal weight” rating and a $170.00 price objective for the company. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Align Technology presently has an average rating of “Hold” and a consensus target price of $195.58.

Read Our Latest Report on ALGN

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $187.60 on Thursday. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 1.97 and a beta of 1.84. The stock’s 50-day moving average is $163.26 and its two-hundred day moving average is $148.77. Align Technology has a 1-year low of $122.00 and a 1-year high of $224.18.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts anticipate that Align Technology will post 7.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sentry Investment Management LLC grew its position in Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in Align Technology during the 3rd quarter worth $26,000. Rothschild Investment LLC lifted its stake in shares of Align Technology by 140.3% in the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 87 shares during the period. True Wealth Design LLC boosted its holdings in shares of Align Technology by 7,650.0% in the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 153 shares in the last quarter. Finally, Independence Bank of Kentucky increased its stake in shares of Align Technology by 77.7% during the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology News Summary

Here are the key news stories impacting Align Technology this week:

About Align Technology

(Get Free Report)

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.

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Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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