Piper Sandler Reaffirms Overweight Rating for Align Technology (NASDAQ:ALGN)

Align Technology (NASDAQ:ALGN)‘s stock had its “overweight” rating restated by equities researchers at Piper Sandler in a research report issued on Thursday, MarketBeat Ratings reports. They currently have a $200.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $190.00. Piper Sandler’s price objective suggests a potential upside of 45.05% from the company’s previous close.

Other research analysts also recently issued reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday. Wells Fargo & Company lowered their target price on Align Technology from $246.00 to $199.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Leerink Partners dropped their target price on Align Technology from $188.00 to $172.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. UBS Group decreased their price target on Align Technology from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Finally, Evercore ISI decreased their price target on Align Technology from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Align Technology has a consensus rating of “Hold” and a consensus price target of $177.27.

Align Technology Price Performance

Shares of ALGN opened at $137.88 on Thursday. The company has a market capitalization of $9.99 billion, a P/E ratio of 26.72, a PEG ratio of 1.49 and a beta of 1.70. Align Technology has a one year low of $122.00 and a one year high of $246.19. The business’s 50 day simple moving average is $133.23 and its 200-day simple moving average is $161.81.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, topping the consensus estimate of $2.38 by $0.23. The business had revenue of $995.69 million for the quarter, compared to the consensus estimate of $980.75 million. Align Technology had a return on equity of 14.06% and a net margin of 9.50%.Align Technology’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.35 EPS. Align Technology has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Align Technology will post 7.98 EPS for the current fiscal year.

Align Technology declared that its board has authorized a share buyback plan on Tuesday, August 5th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Redmond Asset Management LLC lifted its stake in shares of Align Technology by 2.0% in the 1st quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider’s stock valued at $440,000 after purchasing an additional 54 shares during the period. Horizon Investments LLC lifted its stake in shares of Align Technology by 6.2% in the 1st quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider’s stock valued at $162,000 after purchasing an additional 59 shares during the period. Atria Investments Inc lifted its stake in shares of Align Technology by 4.9% in the 2nd quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock valued at $298,000 after purchasing an additional 74 shares during the period. IFP Advisors Inc lifted its stake in shares of Align Technology by 5.7% in the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock valued at $270,000 after purchasing an additional 77 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Align Technology by 18.8% in the 1st quarter. Covestor Ltd now owns 493 shares of the medical equipment provider’s stock valued at $78,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

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.