Mizuho Cuts Align Technology (NASDAQ:ALGN) Price Target to $250.00

Align Technology (NASDAQ:ALGN) had its price objective decreased by Mizuho from $295.00 to $250.00 in a research report released on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the medical equipment provider’s stock.

Other equities analysts also recently issued research reports about the company. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler restated an “overweight” rating and issued a $235.00 price target (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Bank of America lifted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Wells Fargo & Company assumed coverage on shares of Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price on the stock. Finally, Jefferies Financial Group decreased their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and an average price target of $262.64.

Align Technology Stock Down 1.3 %

Shares of ALGN opened at $164.29 on Tuesday. The business has a fifty day moving average of $195.03 and a 200 day moving average of $215.07. The company has a market cap of $12.09 billion, a PE ratio of 29.29, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology has a 52-week low of $158.13 and a 52-week high of $331.64.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts anticipate that Align Technology will post 7.98 earnings per share for the current fiscal year.

Institutional Trading of Align Technology

Hedge funds have recently modified their holdings of the company. 111 Capital bought a new position in shares of Align Technology during the 4th quarter worth approximately $319,000. NorthCrest Asset Manangement LLC increased its position in shares of Align Technology by 21.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,259 shares of the medical equipment provider’s stock worth $263,000 after purchasing an additional 225 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new stake in shares of Align Technology during the 4th quarter valued at $367,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Align Technology in the 4th quarter worth $23,660,000. Finally, Azzad Asset Management Inc. ADV grew its stake in Align Technology by 4.4% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 17,442 shares of the medical equipment provider’s stock worth $3,637,000 after buying an additional 729 shares during the last quarter. 88.43% of the stock is 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.