Evercore ISI Trims Align Technology (NASDAQ:ALGN) Target Price to $270.00

by · The Markets Daily

Align Technology (NASDAQ:ALGN – Free Report) had its target price reduced by Evercore ISI from $280.00 to $270.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other research analysts have also recently issued reports on ALGN. StockNews.com upgraded shares of Align Technology from a hold rating to a buy rating in a report on Thursday, September 19th. Robert W. Baird cut their price target on shares of Align Technology from $370.00 to $325.00 and set an outperform rating on the stock in a report on Monday, July 22nd. Piper Sandler reaffirmed an overweight rating and set a $315.00 price objective on shares of Align Technology in a research note on Friday, September 13th. Stifel Nicolaus cut their target price on Align Technology from $400.00 to $350.00 and set a buy rating on the stock in a research note on Thursday, July 25th. Finally, Morgan Stanley lowered their price target on Align Technology from $328.00 to $310.00 and set an overweight rating for the company in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $303.13.

Get Our Latest Research Report on ALGN

Align Technology Trading Down 1.8 %

Shares of NASDAQ ALGN opened at $229.65 on Tuesday. The stock’s 50-day moving average is $233.48 and its 200 day moving average is $258.08. The stock has a market cap of $17.29 billion, a price-to-earnings ratio of 37.83, a P/E/G ratio of 5.77 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 – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business posted $1.73 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that Align Technology will post 7.61 EPS for the current fiscal year.

Insider Transactions at Align Technology

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the transaction, the director now directly owns 28,247 shares of the company’s stock, valued at $6,647,366.51. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALGN. Mather Group LLC. purchased a new position in shares of Align Technology during the first quarter valued at approximately $26,000. LRI Investments LLC bought a new stake in Align Technology in the first quarter worth $29,000. Cullen Frost Bankers Inc. boosted its holdings in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 94 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Align Technology in the second quarter worth $26,000. Finally, Innealta Capital LLC bought a new position in shares of Align Technology during the second quarter valued at $26,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Company Profile

(Get Free Report)

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.

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