Align Technology (NASDAQ:ALGN) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Align Technology (NASDAQ:ALGN) from a hold rating to a buy rating in a research note published on Saturday morning.

Several other equities analysts have also commented on the company. Jefferies Financial Group increased their target price on Align Technology from $140.00 to $155.00 in a report on Thursday, October 30th. HSBC upped their price objective on Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. UBS Group cut their target price on Align Technology from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Piper Sandler reiterated an “overweight” rating and issued a $200.00 price target (up from $190.00) on shares of Align Technology in a research note on Thursday, October 30th. Finally, Stifel Nicolaus set a $200.00 price objective on shares of Align Technology in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Hold” and a consensus price target of $175.45.

Align Technology Stock Performance

ALGN stock opened at $134.84 on Friday. The company’s 50 day moving average price is $132.60 and its 200 day moving average price is $160.56. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.49 and a beta of 1.84. Align Technology has a fifty-two week low of $122.00 and a fifty-two week high of $246.19.

Align Technology (NASDAQ:ALGN) last posted its quarterly 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. Align Technology had a net margin of 9.50% and a return on equity of 14.06%. The company had revenue of $995.69 million during the quarter, compared to analysts’ expectations of $980.75 million. During the same quarter in the previous year, the business posted $2.35 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. Align Technology has set its Q4 2025 guidance at EPS. Equities analysts forecast that Align Technology will post 7.98 EPS for the current fiscal year.

Align Technology declared that its Board of Directors has authorized a stock repurchase 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 purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Align Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Align Technology in the 2nd quarter worth $155,297,000. Federated Hermes Inc. raised its holdings in Align Technology by 510.3% during the first quarter. Federated Hermes Inc. now owns 707,514 shares of the medical equipment provider’s stock worth $112,396,000 after purchasing an additional 591,588 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Align Technology by 4,217.3% during the first quarter. Mackenzie Financial Corp now owns 426,205 shares of the medical equipment provider’s stock worth $67,707,000 after purchasing an additional 416,333 shares in the last quarter. Ninety One UK Ltd lifted its position in Align Technology by 18.3% in the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock valued at $283,898,000 after purchasing an additional 350,883 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Align Technology by 94.5% in the 2nd quarter. Nordea Investment Management AB now owns 638,341 shares of the medical equipment provider’s stock valued at $121,055,000 after purchasing an additional 310,091 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

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.