Align Technology (NASDAQ:ALGN) Given New $245.00 Price Target at Mizuho

Align Technology (NASDAQ:ALGN) had its price objective cut by Mizuho from $250.00 to $245.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other research firms have also recently weighed in on ALGN. HSBC cut Align Technology from a “buy” rating to a “hold” rating and lowered their price target for the company from $290.00 to $170.00 in a report on Friday, April 25th. Wells Fargo & Company initiated coverage on Align Technology in a research note on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Evercore ISI boosted their target price on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $245.75.

Align Technology Trading Down 1.8 %

Shares of ALGN stock opened at $177.75 on Tuesday. Align Technology has a 12 month low of $141.74 and a 12 month high of $300.00. The stock has a market capitalization of $13.01 billion, a P/E ratio of 31.68, a PEG ratio of 2.24 and a beta of 1.73. The firm’s 50 day moving average is $169.18 and its 200 day moving average is $201.89.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, equities analysts predict that Align Technology will post 7.98 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ALGN. Wilmington Savings Fund Society FSB purchased a new stake in Align Technology during the third quarter valued at $78,000. Oddo BHF Asset Management Sas bought a new position in shares of Align Technology in the 3rd quarter worth approximately $747,000. Exome Asset Management LLC bought a new stake in Align Technology during the third quarter valued at approximately $4,756,000. Principal Financial Group Inc. increased its holdings in Align Technology by 2.7% during the third quarter. Principal Financial Group Inc. now owns 82,020 shares of the medical equipment provider’s stock valued at $20,859,000 after buying an additional 2,168 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 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.