Align Technology, Inc. (NASDAQ:ALGN) Earns “Buy” Rating from Robert W. Baird

Robert W. Baird reissued their buy rating on shares of Align Technology, Inc. (NASDAQ:ALGN) in a report released on Friday, October 27th. The brokerage currently has a $245.00 price objective on the medical equipment provider’s stock.

A number of other research firms have also weighed in on ALGN. Piper Jaffray Companies reissued a buy rating and issued a $176.00 price objective on shares of Align Technology in a research report on Friday, July 28th. Morgan Stanley restated an overweight rating and issued a $182.00 target price (up from $175.00) on shares of Align Technology in a research note on Monday, July 17th. Leerink Swann restated an outperform rating and issued a $199.00 target price (up from $194.00) on shares of Align Technology in a research note on Friday, July 28th. Stifel Nicolaus upped their target price on Align Technology from $205.00 to $225.00 and gave the stock a buy rating in a research report on Monday, October 23rd. Finally, Zacks Investment Research lowered Align Technology from a strong-buy rating to a hold rating in a report on Monday, August 21st. Eleven research analysts have rated the stock with a buy rating, Align Technology currently has a consensus rating of Buy and an average price target of $219.18.

Shares of Align Technology (NASDAQ ALGN) opened at $254.02 on Friday. The stock has a market cap of $20,430.00, a PE ratio of 73.81, a PEG ratio of 2.39 and a beta of 1.41. Align Technology has a 1 year low of $88.56 and a 1 year high of $257.60.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The company had revenue of $385.30 million for the quarter, compared to analyst estimates of $359.80 million. During the same period in the prior year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. analysts forecast that Align Technology will post 3.62 EPS for the current year.

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In other news, VP Julie Tay sold 3,500 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $253.00, for a total transaction of $885,500.00. Following the sale, the vice president now owns 12,213 shares of the company’s stock, valued at $3,089,889. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Raphael Pascaud sold 5,400 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $241.88, for a total value of $1,306,152.00. Following the completion of the transaction, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at $5,376,508.64. The disclosure for this sale can be found here. Insiders sold 16,600 shares of company stock worth $4,031,567 in the last three months. Insiders own 1.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ALGN. Honkamp Krueger Financial Services Inc. boosted its stake in shares of Align Technology by 1.7% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock worth $306,000 after acquiring an additional 34 shares during the period. Buckingham Asset Management LLC boosted its stake in shares of Align Technology by 3.3% during the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock worth $279,000 after acquiring an additional 59 shares during the period. Security Asset Management boosted its stake in shares of Align Technology by 0.5% during the 2nd quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock worth $1,912,000 after acquiring an additional 65 shares during the period. BB&T Securities LLC boosted its stake in shares of Align Technology by 3.5% during the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock worth $413,000 after acquiring an additional 94 shares during the period. Finally, Wrapmanager Inc. boosted its stake in shares of Align Technology by 2.6% during the 2nd quarter. Wrapmanager Inc. now owns 3,835 shares of the medical equipment provider’s stock worth $576,000 after acquiring an additional 99 shares during the period. Hedge funds and other institutional investors own 80.86% of the company’s stock.

About Align Technology

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

Analyst Recommendations for Align Technology (NASDAQ:ALGN)

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