Baird Financial Group Inc. Acquires 9,184 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Baird Financial Group Inc. grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 4.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 237,441 shares of the medical equipment provider’s stock after buying an additional 9,184 shares during the period. Baird Financial Group Inc. owned approximately 0.30% of Align Technology worth $49,177,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cullen Frost Bankers Inc. lifted its holdings in shares of Align Technology by 188.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 144 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 94 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of Align Technology by 2,090.0% in the 3rd quarter. MCF Advisors LLC now owns 219 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 209 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Align Technology by 27.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 224 shares of the medical equipment provider’s stock worth $46,000 after purchasing an additional 48 shares in the last quarter. Benjamin Edwards Inc. bought a new position in shares of Align Technology in the 3rd quarter worth $47,000. Finally, Alta Advisers Ltd bought a new position in shares of Align Technology in the 3rd quarter worth $62,000. 84.90% of the stock is currently owned by institutional investors.

Align Technology Price Performance

NASDAQ:ALGN opened at $320.76 on Wednesday. The business has a 50 day moving average of $290.65 and a 200 day moving average of $238.86. The company has a market capitalization of $24.57 billion, a price-to-earnings ratio of 69.58, a PEG ratio of 3.00 and a beta of 1.60. Align Technology, Inc. has a 1-year low of $172.05 and a 1-year high of $461.79.

Insiders Place Their Bets

In related news, CEO Joseph M. Hogan purchased 2,928 shares of the firm’s stock in a transaction on Wednesday, February 8th. The shares were acquired at an average cost of $341.50 per share, with a total value of $999,912.00. Following the purchase, the chief executive officer now directly owns 188,417 shares of the company’s stock, valued at $64,344,405.50. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Align Technology news, CFO John Morici bought 587 shares of Align Technology stock in a transaction dated Wednesday, February 8th. The shares were purchased at an average cost of $341.84 per share, with a total value of $200,660.08. Following the completion of the purchase, the chief financial officer now owns 8,204 shares of the company’s stock, valued at $2,804,455.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph M. Hogan bought 2,928 shares of Align Technology stock in a transaction dated Wednesday, February 8th. The shares were acquired at an average cost of $341.50 per share, for a total transaction of $999,912.00. Following the completion of the purchase, the chief executive officer now directly owns 188,417 shares of the company’s stock, valued at approximately $64,344,405.50. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ALGN shares. The Goldman Sachs Group upgraded Align Technology from a “sell” rating to a “neutral” rating and increased their target price for the stock from $165.00 to $307.00 in a report on Thursday, February 2nd. Stifel Nicolaus raised their target price on Align Technology from $265.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Robert W. Baird raised their target price on Align Technology from $260.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Evercore ISI lifted their price objective on Align Technology from $230.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Finally, Piper Sandler raised their target price on Align Technology from $255.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and a consensus price target of $358.78.

Align Technology Company Profile

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Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.