Align Technology (NASDAQ:ALGN) PT Lowered to $276.00 at Robert W. Baird

Align Technology (NASDAQ:ALGN) had its price target lowered by Robert W. Baird from $325.00 to $276.00 in a report published on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical equipment provider’s stock.

ALGN has been the topic of several other research reports. Morgan Stanley dropped their price target on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Piper Sandler reduced their price target on Align Technology from $315.00 to $285.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus lowered their price target on Align Technology from $350.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, Needham & Company LLC assumed coverage on Align Technology in a research report on Thursday, October 10th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $276.38.

Align Technology Stock Up 1.3 %

Shares of ALGN stock opened at $219.30 on Thursday. Align Technology has a 52-week low of $176.34 and a 52-week high of $335.40. The stock has a market cap of $16.51 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64. The business has a 50-day simple moving average of $233.41 and a 200-day simple moving average of $248.91.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 earnings per share. Sell-side analysts anticipate that Align Technology will post 7.61 earnings per share for the current fiscal year.

Insider Transactions at Align Technology

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of Align Technology stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the purchase, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of Align Technology

Several large investors have recently bought and sold shares of the business. LRI Investments LLC purchased a new position in Align Technology in the 1st quarter worth approximately $29,000. Cullen Frost Bankers Inc. lifted its position in Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 94 shares in the last quarter. Rothschild Investment LLC acquired a new position in Align Technology during the second quarter worth $26,000. Innealta Capital LLC purchased a new stake in Align Technology in the 2nd quarter valued at $26,000. Finally, Versant Capital Management Inc increased its stake in shares of Align Technology by 547.1% in the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

About Align Technology

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.