Evercore ISI Cuts Align Technology (NASDAQ:ALGN) Price Target to $170.00

Align Technology (NASDAQ:ALGN) had its price objective decreased by Evercore ISI from $220.00 to $170.00 in a report issued on Tuesday morning,MarketScreener reports. Evercore ISI currently has an outperform rating on the medical equipment provider’s stock.

ALGN has been the topic of several other research reports. Wells Fargo & Company cut their price objective on Align Technology from $199.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Leerink Partners boosted their price target on Align Technology from $172.00 to $189.00 in a report on Thursday, October 30th. Zacks Research upgraded Align Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Stifel Nicolaus set a $200.00 price objective on shares of Align Technology in a report on Thursday, October 30th. Finally, UBS Group dropped their target price on shares of Align Technology from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $175.45.

Align Technology Price Performance

NASDAQ ALGN opened at $147.23 on Tuesday. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 1.49 and a beta of 1.84. Align Technology has a 12 month low of $122.00 and a 12 month high of $246.19. The company’s fifty day moving average price is $134.14 and its two-hundred day moving average price is $156.95.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 14.06%. The company had revenue of $995.69 million during the quarter, compared to the consensus estimate of $980.75 million. During the same quarter in the previous year, the firm earned $2.35 EPS. The company’s revenue was up 1.8% on a year-over-year basis. Align Technology has set its Q4 2025 guidance at EPS. As a group, analysts anticipate that Align Technology will post 7.98 EPS for the current year.

Align Technology declared that its Board of Directors has approved a share buyback program on Tuesday, August 5th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the medical equipment provider to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Align Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Redmond Asset Management LLC increased its holdings in shares of Align Technology by 2.0% in the 1st quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider’s stock worth $440,000 after acquiring an additional 54 shares during the period. Horizon Investments LLC grew its position in Align Technology by 6.2% in the 1st quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider’s stock worth $162,000 after purchasing an additional 59 shares during the last quarter. Atria Investments Inc increased its stake in shares of Align Technology by 4.9% in the second quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock valued at $298,000 after purchasing an additional 74 shares during the period. IFP Advisors Inc increased its stake in shares of Align Technology by 5.7% in the second quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock valued at $270,000 after purchasing an additional 77 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Align Technology by 18.8% during the first quarter. Covestor Ltd now owns 493 shares of the medical equipment provider’s stock valued at $78,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

About Align Technology

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.