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

Align Technology (NASDAQ:ALGN) had its price objective increased by equities research analysts at Leerink Partners from $189.00 to $210.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Leerink Partners’ price target indicates a potential upside of 24.46% from the company’s previous close.

ALGN has been the subject of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Thursday, October 30th. Zacks Research upgraded Align Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Morgan Stanley upped their price target on Align Technology from $142.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Finally, UBS Group lowered their target price on shares of Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday, October 16th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Align Technology currently has a consensus rating of “Hold” and a consensus price target of $176.82.

Align Technology Stock Performance

NASDAQ ALGN opened at $168.73 on Thursday. The stock has a fifty day moving average of $157.96 and a 200-day moving average of $150.75. The stock has a market capitalization of $12.11 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 1.90 and a beta of 1.83. Align Technology has a 52 week low of $122.00 and a 52 week high of $234.39.

Align Technology (NASDAQ:ALGN) last released 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. The company had revenue of $995.69 million for the quarter, compared to the consensus estimate of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.35 EPS. Equities research analysts forecast 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 business. Atria Investments Inc boosted its stake in shares of Align Technology by 4.9% during the 2nd quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after buying an additional 74 shares during the last quarter. IFP Advisors Inc grew its stake in 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 in the last quarter. Arizona State Retirement System increased its position in shares of Align Technology by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock worth $2,553,000 after purchasing an additional 79 shares during the last quarter. Sentry Investment Management LLC raised its stake in shares of Align Technology by 73.1% during the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Finally, Independence Bank of Kentucky increased its holdings in 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 buying an additional 80 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

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.