Baird Financial Group Inc. Buys 9,184 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Baird Financial Group Inc. grew its stake in Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 237,441 shares of the medical equipment provider’s stock after acquiring an additional 9,184 shares during the quarter. Baird Financial Group Inc.’s holdings in Align Technology were worth $49,177,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. lifted its holdings in shares of Align Technology by 188.0% during the third quarter. Cullen Frost Bankers Inc. now owns 144 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 94 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of Align Technology by 2,090.0% during the third quarter. MCF Advisors LLC now owns 219 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 209 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Align Technology by 27.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 224 shares of the medical equipment provider’s stock valued at $46,000 after purchasing an additional 48 shares in the last quarter. Benjamin Edwards Inc. bought a new position in shares of Align Technology during the third quarter valued at $47,000. Finally, CoreCap Advisors LLC bought a new position in shares of Align Technology during the second quarter valued at $69,000. 84.90% of the stock is owned by institutional investors.

Align Technology Stock Performance

Align Technology stock opened at $320.76 on Wednesday. The stock has a fifty day moving average of $290.65 and a 200 day moving average of $238.86. The stock has a market cap of $24.57 billion, a PE ratio of 69.58, a price-to-earnings-growth ratio of 3.00 and a beta of 1.60. Align Technology, Inc. has a one year low of $172.05 and a one year high of $461.79.

Insiders Place Their Bets

In related news, CFO John Morici purchased 587 shares of Align Technology stock in a transaction on Wednesday, February 8th. The stock was acquired at an average price of $341.84 per share, for a total transaction of $200,660.08. Following the completion of the transaction, the chief financial officer now directly owns 8,204 shares in the company, valued at approximately $2,804,455.36. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO John Morici purchased 587 shares of Align Technology stock in a transaction on Wednesday, February 8th. The stock was acquired at an average price of $341.84 per share, for a total transaction of $200,660.08. Following the completion of the transaction, the chief financial officer now directly owns 8,204 shares in the company, valued at approximately $2,804,455.36. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph M. Hogan purchased 2,928 shares of Align Technology stock in a transaction on Wednesday, February 8th. The stock was bought at an average price of $341.50 per share, with a total value of $999,912.00. Following the transaction, the chief executive officer now owns 188,417 shares of the company’s stock, valued at $64,344,405.50. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALGN. Robert W. Baird upped their price target on Align Technology from $260.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Evercore ISI upped their price target on Align Technology from $230.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Piper Sandler upped their price objective on Align Technology from $255.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. The Goldman Sachs Group upgraded Align Technology from a “sell” rating to a “neutral” rating and upped their price objective for the company from $165.00 to $307.00 in a research report on Thursday, February 2nd. Finally, Stifel Nicolaus upped their price objective on Align Technology from $265.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $358.78.

Align Technology Company Profile

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Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.