Commerce Bank Buys 1,081 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Commerce Bank boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 47.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,381 shares of the medical equipment provider’s stock after purchasing an additional 1,081 shares during the quarter. Commerce Bank’s holdings in Align Technology were worth $860,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of Align Technology during the 3rd quarter worth approximately $114,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Align Technology in the third quarter valued at approximately $742,000. Banque Cantonale Vaudoise raised its position in Align Technology by 240.2% during the third quarter. Banque Cantonale Vaudoise now owns 6,909 shares of the medical equipment provider’s stock valued at $1,757,000 after purchasing an additional 4,878 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Align Technology by 9.2% during the third quarter. Thrivent Financial for Lutherans now owns 342,377 shares of the medical equipment provider’s stock worth $87,074,000 after purchasing an additional 28,924 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Align Technology by 21.8% in the 3rd quarter. Natixis Advisors LLC now owns 18,654 shares of the medical equipment provider’s stock valued at $4,744,000 after purchasing an additional 3,344 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ALGN shares. Morgan Stanley lowered their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Piper Sandler dropped their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Robert W. Baird lowered their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Stifel Nicolaus cut their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $276.38.

Align Technology Price Performance

NASDAQ:ALGN opened at $240.52 on Tuesday. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The company has a market cap of $17.95 billion, a PE ratio of 41.04, a P/E/G ratio of 5.85 and a beta of 1.65. The firm’s 50 day simple moving average is $228.36 and its 200 day simple moving average is $237.28.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. During the same quarter in the previous year, the business earned $1.62 earnings per share. Align Technology’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts expect that Align Technology, Inc. will post 7.45 EPS for the current year.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.