Align Technology (NASDAQ:ALGN) Price Target Cut to $160.00 by Analysts at Evercore ISI

Key Points

• Evercore ISI has reduced the price target for Align Technology from $170.00 to $160.00, indicating a potential upside of 22.63% from its previous close.
• The stock has experienced a recent decline, with several analysts lowering their targets; Wells Fargo cut theirs to $199.00, while Morgan Stanley set it at $154.00.
• Align Technology's CEO, Joseph M. Hogan, recently acquired 7,576 shares at approximately $131.49 per share, reflecting his confidence in the company's future prospects.

Align Technology (NASDAQ:ALGN - Get Free Report) had its price target dropped by Evercore ISI from $170.00 to $160.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the medical equipment provider's stock. Evercore ISI's price target indicates a potential upside of 22.63% from the company's previous close.

Several other equities research analysts have also commented on ALGN. Wells Fargo & Company dropped their price target 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. Mizuho set a $210.00 price target on shares of Align Technology in a research report on Thursday, July 31st. Weiss Ratings reissued a "hold (c-)" rating on shares of Align Technology in a research report on Saturday, September 27th. Morgan Stanley restated an "equal weight" rating and set a $154.00 price objective (down previously from $249.00) on shares of Align Technology in a research note on Thursday, July 31st. Finally, Zacks Research upgraded Align Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Align Technology presently has an average rating of "Moderate Buy" and an average target price of $210.00.

Align Technology Price Performance

Align Technology stock opened at $130.47 on Wednesday. The stock has a market capitalization of $9.46 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.48 and a beta of 1.70. Align Technology has a 12-month low of $122.00 and a 12-month high of $246.19. The firm's 50-day moving average is $137.18 and its two-hundred day moving average is $165.19.

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

Align Technology declared that its board has approved a share buyback plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Align Technology

In other news, CEO Joseph M. Hogan acquired 7,576 shares of the company's stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $131.49 per share, with a total value of $996,168.24. Following the purchase, the chief executive officer owned 184,945 shares of the company's stock, valued at approximately $24,318,418.05. This represents 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 available through this link. Insiders own 0.66% of the company's stock.

Institutional Investors Weigh In On Align Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC lifted its stake in Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 87 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Align Technology by 7,650.0% in the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 153 shares in the last quarter. Cromwell Holdings LLC lifted its position in shares of Align Technology by 2,900.0% during the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider's stock valued at $34,000 after acquiring an additional 174 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Align Technology during the 2nd quarter worth $36,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of Align Technology during the first quarter worth $32,000. 88.43% of the stock is owned by institutional investors and hedge funds.

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.

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