Align Technology (NASDAQ:ALGN) Now Covered by Mizuho

Mizuho initiated coverage on shares of Align Technology (NASDAQ:ALGN) in a report published on Wednesday morning, Marketbeat reports. The firm issued an outperform rating and a $295.00 price objective on the medical equipment provider’s stock.

A number of other analysts have also commented on ALGN. Evercore ISI dropped their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Robert W. Baird dropped their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus dropped their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.44.

Align Technology Stock Performance

Shares of Align Technology stock opened at $235.29 on Wednesday. Align Technology has a 52-week low of $196.09 and a 52-week high of $335.40. The stock has a market capitalization of $17.56 billion, a price-to-earnings ratio of 40.15, a P/E/G ratio of 6.07 and a beta of 1.66. The company’s 50 day moving average price is $225.61 and its 200-day moving average price is $235.45.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same quarter last year, the business earned $1.62 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Align Technology will post 7.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Align Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mather Group LLC. increased its holdings in shares of Align Technology by 52.5% during the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 42 shares in the last quarter. Quarry LP increased its holdings in shares of Align Technology by 53.0% during the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 44 shares in the last quarter. Crewe Advisors LLC increased its holdings in Align Technology by 36.8% in the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 46 shares in the last quarter. Empirical Finance LLC increased its holdings in Align Technology by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock worth $632,000 after buying an additional 50 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Align Technology by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock worth $2,143,000 after buying an additional 54 shares in the last quarter. 88.43% of the stock is currently owned by 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.