Evercore ISI Increases Align Technology (NASDAQ:ALGN) Price Target to $200.00

Align Technology (NASDAQ:ALGNGet Free Report) had its price objective raised by research analysts at Evercore ISI from $180.00 to $200.00 in a research report issued on Thursday,MarketScreener reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Evercore ISI’s target price points to a potential upside of 6.61% from the company’s current price.

ALGN has been the subject of a number of other research reports. Morgan Stanley boosted their price objective on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday. Weiss Ratings raised Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th. Wells Fargo & Company raised their price objective on Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays started coverage on Align Technology in a research note on Monday, December 8th. They issued an “equal weight” rating and a $170.00 target price for the company. Finally, Mizuho raised their price target on Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $195.92.

View Our Latest Stock Report on Align Technology

Align Technology Stock Up 6.8%

Shares of NASDAQ:ALGN opened at $187.60 on Thursday. The company has a market capitalization of $13.46 billion, a P/E ratio of 33.14, a P/E/G ratio of 1.97 and a beta of 1.84. Align Technology has a 52-week low of $122.00 and a 52-week high of $224.18. The stock’s fifty day simple moving average is $163.26 and its 200-day simple moving average is $148.77.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.44 EPS. On average, sell-side analysts anticipate that Align Technology will post 7.98 earnings per share for the current year.

Hedge Funds Weigh In On Align Technology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rothschild Investment LLC increased its position in Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares in the last quarter. True Wealth Design LLC grew its stake in Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 153 shares during the period. Independence Bank of Kentucky increased its position in shares of Align Technology by 77.7% in the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 80 shares in the last quarter. Sentry Investment Management LLC increased its position in shares of Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Align Technology in the 2nd quarter valued at $36,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology News Roundup

Here are the key news stories impacting Align Technology this week:

About Align Technology

(Get Free Report)

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.

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