Benjamin Edwards Inc. Increases Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Benjamin Edwards Inc. boosted its position in Align Technology, Inc. (NASDAQ:ALGN) by 240.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 919 shares of the medical equipment provider’s stock after purchasing an additional 649 shares during the period. Benjamin Edwards Inc.’s holdings in Align Technology were worth $234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Align Technology by 57.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,732 shares of the medical equipment provider’s stock worth $440,000 after buying an additional 630 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Align Technology in the third quarter valued at about $4,168,000. True Wealth Design LLC lifted its holdings in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of Align Technology by 113.8% during the 3rd quarter. Edgestream Partners L.P. now owns 15,985 shares of the medical equipment provider’s stock worth $4,065,000 after purchasing an additional 8,507 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Align Technology during the 3rd quarter worth approximately $1,562,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Stifel Nicolaus decreased their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Mizuho initiated coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target on the stock. Finally, Morgan Stanley cut their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $278.44.

Align Technology Stock Down 0.2 %

Shares of ALGN opened at $237.16 on Wednesday. The firm has a market cap of $17.70 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 6.02 and a beta of 1.66. The company’s fifty day moving average is $224.39 and its two-hundred day moving average is $234.67. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40.

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

About Align Technology

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.