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

Align Technology (NASDAQ:ALGN) had its price objective lifted by investment analysts at Robert W. Baird from $333.00 to $370.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 17.92% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Stifel Nicolaus boosted their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. The Goldman Sachs Group upped their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. UBS Group increased their target price on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Finally, SVB Leerink started coverage on Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target on the stock. One 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $341.18.

Align Technology Stock Up 0.6 %

Shares of Align Technology stock opened at $313.78 on Thursday. The business has a fifty day simple moving average of $313.37 and a 200-day simple moving average of $270.52. The firm has a market cap of $23.61 billion, a price-to-earnings ratio of 53.91, a price-to-earnings-growth ratio of 5.59 and a beta of 1.65. Align Technology has a fifty-two week low of $176.34 and a fifty-two week high of $413.20.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The company had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. Analysts anticipate that Align Technology will post 7.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Emory Wright sold 2,524 shares of the firm’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 completion of the sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock worth $8,403,924 over the last ninety days. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Align Technology

Several institutional investors have recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Align Technology in the first quarter valued at $26,000. Huntington National Bank boosted its position in shares of Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 56 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in Align Technology in the third quarter valued at about $61,000. Orion Capital Management LLC bought a new stake in Align Technology in the third quarter valued at about $61,000. Finally, Operose Advisors LLC acquired a new position in Align Technology in the third quarter worth about $63,000. 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.