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

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

A number of other brokerages also recently weighed in on ALGN. Northcoast Research reissued a buy rating and issued a $230.00 price objective (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Morgan Stanley reissued an overweight rating and issued a $220.00 price objective (up from $195.00) on shares of Align Technology in a research note on Friday, October 6th. Goldman Sachs Group Inc raised their price objective on Align Technology from $185.00 to $210.00 and gave the company a buy rating in a research note on Friday, September 15th. Piper Jaffray Companies reissued a buy rating and issued a $200.00 price objective on shares of Align Technology in a research note on Monday, September 11th. Finally, Leerink Swann reissued an outperform rating and issued a $199.00 price objective (up from $194.00) on shares of Align Technology in a research note on Friday, July 28th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $198.50.

Shares of Align Technology (NASDAQ:ALGN) traded up 2.05% during mid-day trading on Wednesday, reaching $200.88. 2,882,489 shares of the company’s stock traded hands. Align Technology has a 1-year low of $83.27 and a 1-year high of $201.70. The company has a market capitalization of $16.10 billion, a P/E ratio of 68.79 and a beta of 1.54. The firm has a 50-day moving average price of $187.02 and a 200-day moving average price of $157.72.

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

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Honkamp Krueger Financial Services Inc. increased its position in Align Technology by 1.7% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,037 shares of the medical equipment provider’s stock worth $306,000 after buying an additional 34 shares during the period. Buckingham Asset Management LLC increased its position in Align Technology by 3.3% in the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock worth $279,000 after buying an additional 59 shares during the period. Security Asset Management increased its position in Align Technology by 0.5% in the 2nd quarter. Security Asset Management now owns 12,735 shares of the medical equipment provider’s stock worth $1,912,000 after buying an additional 65 shares during the period. BB&T Securities LLC increased its position in Align Technology by 3.5% in the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock worth $413,000 after buying an additional 94 shares during the period. Finally, Wrapmanager Inc. increased its position in Align Technology by 2.6% in the 2nd quarter. Wrapmanager Inc. now owns 3,835 shares of the medical equipment provider’s stock worth $576,000 after buying an additional 99 shares during the period. 81.53% of the stock is currently owned by institutional investors.

Align Technology Company Profile

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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