Evercore ISI Issues Positive Forecast for Align Technology (NASDAQ:ALGN) Stock Price

Align Technology (NASDAQ:ALGN) had its price objective increased by Evercore ISI from $240.00 to $260.00 in a research note published on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the medical equipment provider’s stock.

A number of other brokerages also recently issued reports on ALGN. Robert W. Baird dropped their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Thursday. Bank of America boosted their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Stifel Nicolaus dropped their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Mizuho initiated coverage on Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $271.40.

Align Technology Trading Up 0.9 %

Shares of NASDAQ:ALGN opened at $218.38 on Thursday. Align Technology has a 1-year low of $196.09 and a 1-year high of $335.40. The stock has a market cap of $16.30 billion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 4.80 and a beta of 1.67. The stock’s fifty day simple moving average is $221.92 and its two-hundred day simple moving average is $226.15.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 11.15% and a return on equity of 13.99%. On average, sell-side analysts forecast that Align Technology will post 7.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Align Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGN. True Wealth Design LLC grew its stake in Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares during the period. Neo Ivy Capital Management purchased a new stake in Align Technology in the third quarter worth $32,000. Private Trust Co. NA grew its stake in Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 93 shares during the period. CVA Family Office LLC grew its stake in Align Technology by 85.2% in the third quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 69 shares during the period. Finally, Mather Group LLC. grew its stake in Align Technology by 51.6% in the third quarter. Mather Group LLC. now owns 185 shares of the medical equipment provider’s stock worth $47,000 after purchasing an additional 63 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

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.