Align Technology, Inc. (ALGN) Given a $208.00 Price Target at Robert W. Baird

Robert W. Baird set a $208.00 target price on Align Technology, Inc. (NASDAQ:ALGN) in a research report sent to investors on Wednesday morning. The brokerage currently has a buy rating on the medical equipment provider’s stock.

ALGN has been the topic of several other reports. Zacks Investment Research cut shares of Align Technology from a strong-buy rating to a hold rating in a research report on Monday, August 21st. Morgan Stanley reissued an overweight rating and set a $220.00 price target (up from $195.00) on shares of Align Technology in a research report on Friday, October 6th. Northcoast Research reissued a buy rating and set a $230.00 price target (up from $200.00) on shares of Align Technology in a research report on Tuesday, October 10th. Leerink Swann boosted their price target on shares of Align Technology from $149.00 to $194.00 and gave the stock an outperform rating in a research report on Monday, June 26th. Finally, Bank of America Corporation raised shares of Align Technology from a neutral rating to a buy rating and boosted their price target for the stock from $175.00 to $193.00 in a research report on Friday, July 28th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $198.50.

Align Technology (ALGN) traded up 1.35% during trading on Wednesday, reaching $196.85. 924,539 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $185.70 and a 200-day moving average price of $156.83. Align Technology has a 12 month low of $83.27 and a 12 month high of $196.89. The firm has a market cap of $15.78 billion, a PE ratio of 67.41 and a beta of 1.54.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The firm had revenue of $356.50 million for the quarter, compared to analysts’ expectations of $343.43 million. During the same period in the previous year, the firm posted $0.62 EPS. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, analysts forecast that Align Technology will post $3.41 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in ALGN. Neuberger Berman Group LLC increased its stake in shares of Align Technology by 11.7% during the 1st quarter. Neuberger Berman Group LLC now owns 4,538 shares of the medical equipment provider’s stock worth $521,000 after purchasing an additional 474 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Align Technology by 4.9% during the 1st quarter. Teachers Advisors LLC now owns 70,197 shares of the medical equipment provider’s stock worth $8,052,000 after purchasing an additional 3,298 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Align Technology by 28.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,696 shares of the medical equipment provider’s stock worth $1,915,000 after purchasing an additional 3,673 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Align Technology by 52.1% during the 1st quarter. Legal & General Group Plc now owns 108,739 shares of the medical equipment provider’s stock worth $12,473,000 after purchasing an additional 37,227 shares during the last quarter. Finally, Ngam Advisors L.P. increased its stake in shares of Align Technology by 3.5% during the 1st quarter. Ngam Advisors L.P. now owns 19,854 shares of the medical equipment provider’s stock worth $2,277,000 after purchasing an additional 674 shares during the last quarter. Institutional investors own 81.53% 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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