Natixis Advisors LLC Purchases 3,344 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Natixis Advisors LLC lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 21.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,654 shares of the medical equipment provider’s stock after buying an additional 3,344 shares during the quarter. Natixis Advisors LLC’s holdings in Align Technology were worth $4,744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. grew its position in shares of Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 94 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Align Technology during the 2nd quarter worth $26,000. Rothschild Investment LLC bought a new position in shares of Align Technology during the 2nd quarter worth $26,000. Versant Capital Management Inc grew its position in shares of Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 93 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Align Technology during the 1st quarter worth $29,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

NASDAQ ALGN opened at $225.89 on Friday. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The firm has a market capitalization of $16.86 billion, a P/E ratio of 38.55, a PEG ratio of 5.77 and a beta of 1.65. The stock has a 50-day simple moving average of $228.54 and a two-hundred day simple moving average of $238.16.

Align Technology (NASDAQ:ALGN) last announced 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 company 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%. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 earnings per share. As a group, analysts forecast that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALGN. Morgan Stanley decreased their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus decreased their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Evercore ISI dropped their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird decreased their price target on 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, Piper Sandler decreased their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $276.38.

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.