Align Technology (NASDAQ:ALGN) Price Target Cut to $250.00 by Analysts at Mizuho

Align Technology (NASDAQ:ALGN) had its price target cut by Mizuho from $295.00 to $250.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other equities analysts also recently weighed in on the stock. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Evercore ISI boosted their target price on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company began coverage on Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target on the stock. Finally, Jefferies Financial Group decreased their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $262.64.

Align Technology Trading Down 1.3 %

NASDAQ ALGN opened at $164.29 on Tuesday. The stock has a market cap of $12.09 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology has a 12-month low of $158.13 and a 12-month high of $331.64. The company has a fifty day simple moving average of $195.03 and a two-hundred day simple moving average of $215.07.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, sell-side analysts forecast that Align Technology will post 7.98 earnings per share for the current year.

Institutional Trading of Align Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd increased its holdings in Align Technology by 14.6% in the 4th quarter. Covestor Ltd now owns 415 shares of the medical equipment provider’s stock worth $87,000 after acquiring an additional 53 shares in the last quarter. Picton Mahoney Asset Management increased its stake in shares of Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Align Technology by 9.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock worth $158,000 after purchasing an additional 64 shares during the last quarter. Beech Hill Advisors Inc. lifted its stake in Align Technology by 0.6% in the 4th quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock valued at $2,425,000 after buying an additional 65 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its holdings in Align Technology by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock worth $1,961,000 after buying an additional 68 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

About Align Technology

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.