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

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

A number of other brokerages have also recently weighed in on ALGN. SVB Leerink initiated coverage on shares of Align Technology in a research report on Monday, February 26th. They set a market perform rating and a $310.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a buy rating in a research report on Thursday, April 18th. Piper Sandler lifted their price target on shares of Align Technology from $335.00 to $355.00 and gave the company an overweight rating in a research report on Thursday, March 14th. The Goldman Sachs Group lifted 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. Finally, UBS Group lifted their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a neutral rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $341.36.

Align Technology Stock Performance

Align Technology stock opened at $310.50 on Thursday. Align Technology has a 1 year low of $176.34 and a 1 year high of $413.20. The firm has a 50 day moving average price of $313.38 and a 200 day moving average price of $270.80. The company has a market cap of $23.37 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 5.59 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) 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 firm had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. Sell-side analysts predict that Align Technology will post 7.69 EPS for the current year.

Insider Transactions at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the sale, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,524 shares of company stock valued at $8,403,924. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Align Technology

Several institutional investors have recently added to or reduced their stakes in ALGN. Capital Investment Advisors LLC increased its stake in Align Technology by 22.3% during the third quarter. Capital Investment Advisors LLC now owns 1,180 shares of the medical equipment provider’s stock valued at $360,000 after purchasing an additional 215 shares during the last quarter. DAVENPORT & Co LLC increased its stake in Align Technology by 3.1% during the third quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider’s stock valued at $663,000 after purchasing an additional 66 shares during the last quarter. Czech National Bank increased its stake in Align Technology by 47.7% during the third quarter. Czech National Bank now owns 12,441 shares of the medical equipment provider’s stock valued at $3,798,000 after purchasing an additional 4,016 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Align Technology by 1.3% during the third quarter. Asset Management One Co. Ltd. now owns 30,319 shares of the medical equipment provider’s stock valued at $9,257,000 after purchasing an additional 387 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Align Technology by 3.0% during the third quarter. Handelsbanken Fonder AB now owns 32,348 shares of the medical equipment provider’s stock valued at $9,876,000 after purchasing an additional 936 shares during the last quarter. 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.