Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Algert Global LLC

Algert Global LLC increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 46.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,022 shares of the medical equipment provider’s stock after buying an additional 644 shares during the quarter. Algert Global LLC’s holdings in Align Technology were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ALGN. Charles Schwab Investment Management Inc. lifted its holdings in shares of Align Technology by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 448,028 shares of the medical equipment provider’s stock worth $113,942,000 after acquiring an additional 10,887 shares during the period. Landscape Capital Management L.L.C. raised its stake in Align Technology by 11.8% during the third quarter. Landscape Capital Management L.L.C. now owns 8,338 shares of the medical equipment provider’s stock worth $2,121,000 after purchasing an additional 878 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Align Technology by 16.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 990 shares of the medical equipment provider’s stock valued at $252,000 after purchasing an additional 138 shares during the last quarter. Commerce Bank grew its stake in shares of Align Technology by 47.0% during the 3rd quarter. Commerce Bank now owns 3,381 shares of the medical equipment provider’s stock valued at $860,000 after buying an additional 1,081 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Align Technology during the 3rd quarter worth $114,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALGN. Piper Sandler reduced their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus decreased their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Morgan Stanley cut their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Robert W. Baird decreased 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 note on Thursday, October 24th. Finally, Evercore ISI cut their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $276.38.

Align Technology Price Performance

Align Technology stock opened at $232.77 on Friday. The firm’s fifty day moving average price is $226.43 and its 200 day moving average price is $236.31. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 39.72, a price-to-earnings-growth ratio of 5.95 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40.

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