Stifel Nicolaus Cuts Align Technology (NASDAQ:ALGN) Price Target to $275.00

Align Technology (NASDAQ:ALGN) had its price objective trimmed by Stifel Nicolaus from $285.00 to $275.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

Several other equities analysts also recently weighed in on ALGN. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday. Robert W. Baird decreased their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday. Piper Sandler dropped their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Finally, Evercore ISI lowered their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $276.38.

Align Technology Stock Performance

Align Technology stock opened at $219.30 on Thursday. The company’s fifty day moving average price is $233.41 and its 200 day moving average price is $248.91. The stock has a market capitalization of $16.51 billion, a P/E ratio of 36.13, a P/E/G ratio of 5.33 and a beta of 1.64. Align Technology has a 1 year low of $176.34 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 earnings per share. Sell-side analysts predict that Align Technology will post 7.61 EPS for the current year.

Insider Buying and Selling

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of Align Technology stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the transaction, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is owned by company insiders.

Institutional Trading of Align Technology

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

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.