Robert W. Baird Lowers Align Technology (NASDAQ:ALGN) Price Target to $510.00

Align Technology (NASDAQ:ALGN – Get Rating) had its price objective cut by Robert W. Baird from $625.00 to $510.00 in a research note issued to investors on Thursday, The Fly reports. Robert W. Baird’s price objective would indicate a potential upside of 41.50% from the company’s current price.

A number of other analysts also recently weighed in on ALGN. TheStreet downgraded shares of Align Technology from a “b-” rating to a “c+” rating in a report on Monday. Piper Sandler reduced their price target on shares of Align Technology from $600.00 to $440.00 in a report on Thursday. UBS Group reduced their price target on shares of Align Technology from $620.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday. Credit Suisse Group reduced their price target on shares of Align Technology from $782.00 to $722.00 and set an “outperform” rating for the company in a report on Thursday, February 3rd. Finally, StockNews.com began coverage on shares of Align Technology in a report on Thursday, March 31st. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $640.50.

NASDAQ:ALGN opened at $360.43 on Thursday. Align Technology has a 1 year low of $353.93 and a 1 year high of $737.45. The firm’s fifty day simple moving average is $435.17 and its 200 day simple moving average is $541.12. The firm has a market capitalization of $28.40 billion, a PE ratio of 37.16, a PEG ratio of 2.76 and a beta of 1.61.

Align Technology (NASDAQ:ALGN – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.14. Align Technology had a net margin of 19.53% and a return on equity of 22.19%. During the same period in the prior year, the firm posted $2.51 earnings per share. Equities analysts anticipate that Align Technology will post 10.97 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. BerganKDV Wealth Management LLC lifted its holdings in Align Technology by 160.0% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 39 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 24 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in Align Technology by 200.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 39 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 26 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Align Technology by 78.3% during the 3rd quarter. Lindbrook Capital LLC now owns 41 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. MUFG Americas Holdings Corp bought a new position in Align Technology during the 3rd quarter valued at about $27,000. Finally, Tsfg LLC lifted its holdings in Align Technology by 200.0% during the 1st quarter. Tsfg LLC now owns 75 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

About Align Technology (Get Rating)

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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