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

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

Other equities research analysts have also recently issued research reports about the company. UBS Group boosted their price target on Align Technology from $280.00 to $320.00 and gave the company a neutral rating in a research note on Monday, April 15th. Stifel Nicolaus boosted their price target on Align Technology from $350.00 to $400.00 and gave the company a buy rating in a research note on Thursday, April 18th. The Goldman Sachs Group boosted their price target on Align Technology from $197.00 to $225.00 and gave the company a sell rating in a research note on Friday, February 2nd. Leerink Partnrs restated a market perform rating on shares of Align Technology in a report on Monday, February 26th. Finally, SVB Leerink started coverage on Align Technology in a report on Monday, February 26th. They issued a market perform rating and a $310.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $353.00.

Align Technology Stock Down 0.5 %

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 firm has a market capitalization of $23.25 billion, a price-to-earnings ratio of 50.91, a price-to-earnings-growth ratio of 5.53 and a beta of 1.65. The stock has a fifty day simple moving average of $313.38 and a 200 day simple moving average of $270.82.

Align Technology (NASDAQ:ALGN) last released 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 return on equity of 14.15% and a net margin of 11.80%. The company had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. Equities analysts predict that Align Technology will post 7.69 earnings per share for the current year.

Insider Activity

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 transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the stock in a transaction dated 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 transaction, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The shares were 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 directly owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock valued at $8,403,924 over the last 90 days. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Align Technology

Several hedge funds have recently added to or reduced their stakes in ALGN. K.J. Harrison & Partners Inc acquired a new stake in shares of Align Technology during the first quarter worth about $658,000. Riverbridge Partners LLC raised its position in shares of Align Technology by 0.6% during the first quarter. Riverbridge Partners LLC now owns 291,709 shares of the medical equipment provider’s stock worth $95,657,000 after purchasing an additional 1,746 shares during the period. Checchi Capital Advisers LLC acquired a new stake in shares of Align Technology during the first quarter worth about $209,000. Lindbrook Capital LLC raised its position in shares of Align Technology by 47.2% during the first quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock worth $61,000 after purchasing an additional 60 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Align Technology by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 1,132,742 shares of the medical equipment provider’s stock worth $371,449,000 after purchasing an additional 11,800 shares during the period. Institutional investors and hedge funds 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.