Robert W. Baird Raises Align Technology (NASDAQ:ALGN) Price Target to $370.00

Align Technology (NASDAQ:ALGN) had its price target upped by Robert W. Baird from $333.00 to $370.00 in a research report report published on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical equipment provider’s stock.

Several other equities analysts have also issued reports on ALGN. Leerink Partnrs reiterated a market perform rating on shares of Align Technology in a report on Monday, February 26th. Piper Sandler lifted their target price on shares of Align Technology from $335.00 to $355.00 and gave the company an overweight rating in a report on Thursday, March 14th. Stifel Nicolaus lifted their target price on shares of Align Technology from $350.00 to $400.00 and gave the company a buy rating in a report on Thursday, April 18th. UBS Group lifted their target price on shares of Align Technology from $280.00 to $320.00 and gave the company a neutral rating in a report on Monday, April 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of Align Technology from $197.00 to $225.00 and gave the stock a sell rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $353.00.

Align Technology Price Performance

NASDAQ ALGN opened at $309.02 on Thursday. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20. The business’s 50-day moving average is $313.38 and its 200 day moving average is $270.82. The stock has a market capitalization of $23.25 billion, a PE ratio of 50.91, a PEG ratio of 5.53 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The business had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. As a group, equities research analysts anticipate that Align Technology will post 7.69 earnings per share for the current year.

Insiders Place Their Bets

In other Align Technology news, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,524 shares of company stock valued at $8,403,924. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Align Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Investment Advisors LLC increased its stake in Align Technology by 22.3% in the 3rd quarter. Capital Investment Advisors LLC now owns 1,180 shares of the medical equipment provider’s stock worth $360,000 after buying an additional 215 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Align Technology by 3.1% in the 3rd quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider’s stock worth $663,000 after buying an additional 66 shares in the last quarter. Czech National Bank increased its stake in Align Technology by 47.7% in the 3rd quarter. Czech National Bank now owns 12,441 shares of the medical equipment provider’s stock worth $3,798,000 after buying an additional 4,016 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in Align Technology by 1.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 30,319 shares of the medical equipment provider’s stock worth $9,257,000 after buying an additional 387 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Align Technology by 3.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 32,348 shares of the medical equipment provider’s stock worth $9,876,000 after buying an additional 936 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.