Fintel reports that on January 6, 2025, Leerink Partners upgraded their outlook for Align Technology (NasdaqGS:ALGN) from Market Perform to Outperform.
Analyst Price Forecast Suggests 21.94% Upside
As of December 23, 2024, the average one-year price target for Align Technology is $266.86/share. The forecasts range from a low of $208.06 to a high of $336.00. The average price target represents an increase of 21.94% from its latest reported closing price of $218.85 / share.
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The projected annual revenue for Align Technology is 4,573MM, an increase of 15.46%. The projected annual non-GAAP EPS is 11.87.
What is the Fund Sentiment?
There are 1,520 funds or institutions reporting positions in Align Technology. This is an decrease of 58 owner(s) or 3.68% in the last quarter. Average portfolio weight of all funds dedicated to ALGN is 0.22%, an increase of 0.23%. Total shares owned by institutions decreased in the last three months by 1.87% to 76,882K shares. 
The put/call ratio of ALGN is 1.56, indicating a bearish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 2,635K shares representing 3.53% ownership of the company. In its prior filing, the firm reported owning 1,768K shares , representing an increase of 32.90%. The firm increased its portfolio allocation in ALGN by 54.01% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,250K shares representing 3.01% ownership of the company. In its prior filing, the firm reported owning 2,266K shares , representing a decrease of 0.72%. The firm decreased its portfolio allocation in ALGN by 1.77% over the last quarter.
T. Rowe Price Investment Management holds 1,982K shares representing 2.65% ownership of the company. In its prior filing, the firm reported owning 1,138K shares , representing an increase of 42.59%. The firm increased its portfolio allocation in ALGN by 75.31% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 1,839K shares representing 2.46% ownership of the company. In its prior filing, the firm reported owning 1,797K shares , representing an increase of 2.28%. The firm decreased its portfolio allocation in ALGN by 0.79% over the last quarter.
Geode Capital Management holds 1,751K shares representing 2.35% ownership of the company. In its prior filing, the firm reported owning 1,729K shares , representing an increase of 1.23%. The firm decreased its portfolio allocation in ALGN by 48.49% over the last quarter.
Align Technology Background Information
(This description is provided by the company.)
Align Technology designs, manufactures and offers the Invisalign® system, the most advanced clear aligner system in the world, iTero® intraoral scanners and services, and exocad CAD/CAM software. These technology building blocks enable enhanced digital orthodontic and restorative workflows to improve patient outcomes and practice efficiencies for over 200 thousand doctor customers, and is key to accessing Align's 500 million consumer market opportunity worldwide. Align has helped doctors treat over 9.6 million patients with the Invisalign system and is driving the evolution in digital dentistry through the Align Digital Platform, its integrated suite of unique, proprietary technologies and services delivered as a seamless, end-to-end solution for patients and consumers, orthodontists and GP dentists, and lab/partners.
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This story originally appeared on Fintel.
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