Align Technology (NASDAQ:ALGN) Price Target Lowered to $275.00 at Piper Sandler

Align Technology (NASDAQ:ALGN) had its price objective lowered by equities research analysts at Piper Sandler from $285.00 to $275.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 24.36% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Robert W. Baird cut their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday. Stifel Nicolaus dropped their price objective on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Evercore ISI dropped their price objective on shares of Align Technology from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley decreased their price target on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $283.88.

Align Technology Trading Up 6.5 %

Shares of ALGN stock traded up $13.47 during trading hours on Thursday, hitting $221.13. 315,728 shares of the company were exchanged, compared to its average volume of 770,492. The business has a 50 day moving average of $234.20 and a two-hundred day moving average of $250.96. Align Technology has a 52 week low of $176.34 and a 52 week high of $335.40. The company has a market capitalization of $16.65 billion, a PE ratio of 36.43, a PEG ratio of 5.33 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. The company had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. On average, research analysts forecast that Align Technology will post 7.61 EPS for the current year.

Insiders Place Their Bets

In other Align Technology news, Director C Raymond Larkin, Jr. bought 6,500 shares of Align Technology stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the acquisition, the director now directly owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALGN. Cullen Frost Bankers Inc. grew its stake in shares of Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 94 shares in the last quarter. Innealta Capital LLC purchased a new position in Align Technology in the second quarter valued at approximately $26,000. Rothschild Investment LLC bought a new stake in shares of Align Technology in the second quarter valued at $26,000. Versant Capital Management Inc lifted its position in shares of Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 93 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of Align Technology during the 1st quarter worth $29,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

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.