Align Technology (NASDAQ:ALGN) Given New $200.00 Price Target at Mizuho

Align Technology (NASDAQ:ALGN) had its price target dropped by stock analysts at Mizuho from $220.00 to $200.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Mizuho’s price objective points to a potential upside of 32.13% from the company’s previous close.

A number of other brokerages also recently commented on ALGN. Evercore downgraded shares of Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 price target for the company. in a report on Monday, October 5th. Wall Street Zen lowered shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Raymond James Financial reaffirmed a “buy” rating on shares of Align Technology in a research note on Monday, October 5th. UBS Group reiterated a “neutral” rating and issued a $189.00 price target on shares of Align Technology in a report on Thursday, July 23rd. Finally, Leerink Partners reduced their price target on Align Technology from $235.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.93.

Align Technology Trading Up 0.6%

ALGN stock opened at $151.37 on Thursday. The company has a market cap of $10.84 billion, a P/E ratio of 26.33, a P/E/G ratio of 1.60 and a beta of 1.67. The company’s 50-day moving average price is $152.57 and its 200 day moving average price is $166.74. Align Technology has a 52 week low of $130.23 and a 52 week high of $200.43.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $2.49 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that Align Technology will post 9.36 earnings per share for the current year.

Institutional Investors Weigh In On Align Technology

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in Align Technology by 77.5% in the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of Align Technology during the first quarter worth about $34,000. Osterweis Capital Management Inc. acquired a new position in shares of Align Technology during the second quarter worth about $36,000. Global Retirement Partners LLC purchased a new stake in shares of Align Technology in the second quarter worth about $38,000. Finally, Bessemer Group Inc. boosted its position in shares of Align Technology by 37.2% in the first quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 67 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Company Profile

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align’s products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.