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

Align Technology (NASDAQ:ALGN) had its price objective increased by investment analysts at Robert W. Baird from $333.00 to $370.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Robert W. Baird’s target price suggests a potential upside of 19.73% from the stock’s previous close.

ALGN has been the subject of several other research reports. The Goldman Sachs Group boosted their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. Stifel Nicolaus upped their price objective on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Piper Sandler upped their price objective on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. SVB Leerink initiated coverage on shares of Align Technology in a research note on Monday, February 26th. They set a “market perform” rating and a $310.00 price objective for the company. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Align Technology has an average rating of “Moderate Buy” and a consensus target price of $341.36.

Align Technology Trading Down 0.5 %

Shares of ALGN stock opened at $309.02 on Thursday. The firm has a 50-day moving average price of $313.38 and a 200 day moving average price of $270.98. Align Technology has a twelve month low of $176.34 and a twelve month high of $413.20. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 5.62 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.80% and a return on equity of 14.22%. The firm had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. As a group, research analysts predict that Align Technology will post 7.69 earnings per share for the current year.

Insider Transactions at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 131,994 shares of the company’s stock, valued at approximately $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 worth $8,403,924. 0.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Align Technology

A number of institutional investors and hedge funds have recently bought and sold shares of ALGN. Vanguard Group Inc. raised its position in shares of Align Technology by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 8,349,785 shares of the medical equipment provider’s stock valued at $2,287,841,000 after purchasing an additional 104,132 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Align Technology by 41.4% during the 4th quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock valued at $413,488,000 after buying an additional 441,754 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Align Technology by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,228,875 shares of the medical equipment provider’s stock valued at $375,200,000 after buying an additional 29,497 shares during the last quarter. Morgan Stanley boosted its stake in shares of Align Technology by 9.8% during the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after buying an additional 90,581 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB purchased a new position in shares of Align Technology during the 3rd quarter valued at approximately $305,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

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.