Align Technology (NASDAQ:ALGN) Price Target Raised to $154.00 at Morgan Stanley

Align Technology (NASDAQ:ALGN) had its target price upped by Morgan Stanley from $142.00 to $154.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the medical equipment provider’s stock.

A number of other analysts have also recently issued reports on the stock. Zacks Research upgraded shares of Align Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Weiss Ratings lowered shares of Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Mizuho dropped their price target on shares of Align Technology from $210.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, October 13th. Evercore ISI lifted their price target on shares of Align Technology from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Stifel Nicolaus set a $200.00 price target on shares of Align Technology in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $174.36.

Align Technology Stock Up 4.9%

NASDAQ ALGN opened at $138.43 on Thursday. The stock has a market capitalization of $10.03 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 1.49 and a beta of 1.70. The company has a 50 day moving average price of $133.47 and a two-hundred day moving average price of $162.00. Align Technology has a 12-month low of $122.00 and a 12-month high of $246.19.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. The firm had revenue of $995.69 million during the quarter, compared to analysts’ expectations of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 14.06%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.35 earnings per share. Align Technology has set its Q4 2025 guidance at EPS. As a group, equities analysts anticipate that Align Technology will post 7.98 EPS for the current year.

Align Technology declared that its Board of Directors has initiated a share buyback program on Tuesday, August 5th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to buy up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Align Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Align Technology by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,441,592 shares of the medical equipment provider’s stock worth $1,341,031,000 after buying an additional 185,187 shares in the last quarter. Ninety One UK Ltd boosted its stake in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after buying an additional 350,883 shares in the last quarter. Invesco Ltd. boosted its stake in Align Technology by 12.7% during the first quarter. Invesco Ltd. now owns 1,219,715 shares of the medical equipment provider’s stock worth $193,764,000 after buying an additional 137,553 shares in the last quarter. Federated Hermes Inc. boosted its stake in Align Technology by 31.0% during the second quarter. Federated Hermes Inc. now owns 926,733 shares of the medical equipment provider’s stock worth $175,458,000 after buying an additional 219,219 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Align Technology by 0.9% during the second quarter. Disciplined Growth Investors Inc. MN now owns 844,987 shares of the medical equipment provider’s stock worth $159,981,000 after buying an additional 7,754 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

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.