Align Technology (ALGN) is Downgraded by Robert W. Baird to Neutral, Price Target at $96

Align Technology (ALGN) was Downgraded by Robert W. Baird to ” Neutral” and the brokerage firm has set the Price Target at $96. Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Oct 3, 2016.

Many Wall Street Analysts have commented on Align Technology. Robert W. Baird Downgraded Align Technology on Oct 3, 2016 to ” Neutral”, Price Target of the shares are set at $96.Company shares were Reiterated by Stifel on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 95 from a previous price target of $82 .

On the company’s financial health, Align Technology reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.48. The company had revenue of $269.40 million for the quarter, compared to analysts expectations of $258.76 million. The company’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Align Technology opened for trading at $92.5 and hit $94.52 on the upside on Friday, eventually ending the session at $93.75, with a gain of 1.45% or 1.34 points. The heightened volatility saw the trading volume jump to 6,15,864 shares. Company has a market cap of $7,504 M.

In a different news, on Aug 29, 2016, Jennifer Olson (VP & Mgng Dir., D-DCC) sold 799 shares at $93.30 per share price. According to the SEC, on Aug 16, 2016, Zelko Relic (VP, R&D) sold 13,577 shares at $95.93 per share price. On Aug 10, 2016, Julie Tay (VP, Asia Pacific) sold 3,000 shares at $92.60 per share price, according to the Form-4 filing with the securities and exchange commission.

Align Technology Inc. (Align) is a medical device company. The Company designs manufactures and markets a system of clear aligner therapy intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services for dentistry orthodontics and dental records storage. The Company operates through two segments: Clear Aligner known as the Invisalign system and Scanners and Services known as the iTero intraoral scanner and OrthoCAD services. The Company’s Clear Aligner segment provides malocclusion and orthodontic treatment. The Company’s Scanners and Services Segment offers iTero intraoral scanner which utilizes laser and optical scanning to capture the contours of the patient’s dentition gingival structures and the bite. It distributes products directly to customers including orthodontists and general practitioner dentists (GPs) as well as to restorative dentists including prosthodontists periodontists and oral surgeons.

Align Technology

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