Align Technology, Inc. (ALGN) Given Buy Rating at Robert W. Baird

Robert W. Baird reaffirmed their buy rating on shares of Align Technology, Inc. (NASDAQ:ALGN) in a research report released on Tuesday morning.

A number of other brokerages have also recently issued reports on ALGN. Piper Jaffray Companies restated a buy rating and set a $176.00 price objective on shares of Align Technology in a report on Friday, July 28th. Morgan Stanley restated an overweight rating and set a $175.00 price objective on shares of Align Technology in a report on Monday, June 19th. They noted that the move was a valuation call. Northcoast Research restated a buy rating and set a $186.00 price objective (up previously from $164.00) on shares of Align Technology in a report on Wednesday, June 21st. Stifel Nicolaus restated a buy rating and set a $200.00 price objective (up previously from $145.00) on shares of Align Technology in a report on Friday, June 23rd. Finally, Leerink Swann restated an outperform rating and set a $199.00 price objective (up previously from $194.00) on shares of Align Technology in a report on Friday, July 28th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $176.80.

Shares of Align Technology (NASDAQ:ALGN) opened at 185.66 on Tuesday. The company has a market cap of $14.88 billion, a P/E ratio of 63.58 and a beta of 1.55. Align Technology has a 12 month low of $83.27 and a 12 month high of $186.10. The firm has a 50 day moving average price of $172.28 and a 200-day moving average price of $141.67.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The company had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $343.43 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The business’s revenue was up 32.3% on a year-over-year basis. Analysts anticipate that Align Technology will post $3.40 earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in shares of Align Technology by 36.7% in the first quarter. AQR Capital Management LLC now owns 94,715 shares of the medical equipment provider’s stock valued at $10,865,000 after buying an additional 25,422 shares during the period. Stifel Financial Corp boosted its stake in shares of Align Technology by 11.6% in the first quarter. Stifel Financial Corp now owns 75,393 shares of the medical equipment provider’s stock valued at $8,643,000 after buying an additional 7,834 shares during the period. Karp Capital Management Corp bought a new stake in shares of Align Technology in the first quarter valued at approximately $2,620,000. American Century Companies Inc. boosted its stake in shares of Align Technology by 2,236.0% in the second quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock valued at $33,178,000 after buying an additional 211,548 shares during the period. Finally, Chevy Chase Trust Holdings Inc. bought a new stake in shares of Align Technology in the second quarter valued at approximately $9,854,000. Institutional investors and hedge funds own 81.72% 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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