Free Trial

Align Technology (NASDAQ:ALGN) Price Target Cut to $142.00 by Analysts at Morgan Stanley

Align Technology logo with Medical background

Key Points

  • Morgan Stanley has decreased the price target for Align Technology from $154.00 to $142.00, maintaining an "equal weight" rating, which suggests a potential upside of 5.24% from the current stock price.
  • Recent reports from other analysts show a range of ratings on Align Technology's stock, indicating an average rating of "Hold" and an average price target of $181.67.
  • The company authorized a $200.00 million share repurchase program, a move typically seen as a sign that management believes the stock is undervalued.
  • MarketBeat previews the top five stocks to own by November 1st.

Align Technology (NASDAQ:ALGN - Get Free Report) had its target price dropped by Morgan Stanley from $154.00 to $142.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has an "equal weight" rating on the medical equipment provider's stock. Morgan Stanley's price target indicates a potential upside of 5.24% from the stock's current price.

A number of other equities analysts also recently issued reports on the company. Zacks Research upgraded Align Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 30th. Leerink Partners lowered their price target on shares of Align Technology from $188.00 to $172.00 and set an "outperform" rating for the company in a research report on Tuesday, October 14th. Wells Fargo & Company decreased their target price on shares of Align Technology from $246.00 to $199.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus dropped their price target on Align Technology from $275.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Finally, UBS Group dropped their target price on Align Technology from $160.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $181.67.

Get Our Latest Research Report on Align Technology

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $134.93 on Tuesday. Align Technology has a 1 year low of $122.00 and a 1 year high of $246.19. The stock has a market capitalization of $9.78 billion, a P/E ratio of 22.75, a P/E/G ratio of 1.48 and a beta of 1.70. The company's 50-day moving average is $134.72 and its 200 day moving average is $163.23.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical equipment provider reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.57 by ($0.08). Align Technology had a net margin of 11.04% and a return on equity of 13.36%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $2.41 earnings per share. The business's revenue was down 1.6% compared to the same quarter last year. Align Technology has set its Q3 2025 guidance at EPS. Research analysts anticipate that Align Technology will post 7.98 earnings per share for the current year.

Align Technology announced that its board has approved a share repurchase program on Tuesday, August 5th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the medical equipment provider to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Insider Activity at Align Technology

In other news, CEO Joseph M. Hogan acquired 7,576 shares of Align Technology stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $131.49 per share, for a total transaction of $996,168.24. Following the completion of the transaction, the chief executive officer owned 184,945 shares in the company, valued at $24,318,418.05. The trade was a 4.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Align Technology

Several institutional investors have recently made changes to their positions in the business. Redmond Asset Management LLC increased its holdings in Align Technology by 2.0% during the first quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider's stock valued at $440,000 after buying an additional 54 shares during the last quarter. Horizon Investments LLC increased 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 worth $162,000 after purchasing an additional 59 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in Align Technology by 5.2% in the 1st quarter. Washington Trust Advisors Inc. now owns 1,205 shares of the medical equipment provider's stock worth $191,000 after purchasing an additional 60 shares during the period. Atria Investments Inc raised its holdings in Align Technology by 4.9% in the 2nd quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider's stock worth $298,000 after purchasing an additional 74 shares during the period. Finally, IFP Advisors Inc lifted its position in Align Technology by 5.7% during the second 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 in the last quarter. Institutional investors own 88.43% of the company's stock.

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.

Read More

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Align Technology Right Now?

Before you consider Align Technology, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Align Technology wasn't on the list.

While Align Technology currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

These 7 Stocks Will Be Magnificent in 2025 Cover

Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.

Get This Free Report
Like this article? Share it with a colleague.