Align Technology, Inc. (NASDAQ:ALGN) Holdings Raised by Capital Investment Advisors LLC

Capital Investment Advisors LLC increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 25.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,439 shares of the medical equipment provider’s stock after acquiring an additional 1,104 shares during the period. Capital Investment Advisors LLC’s holdings in Align Technology were worth $1,383,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Richard W. Paul & Associates LLC grew its holdings in Align Technology by 28.3% during the third quarter. Richard W. Paul & Associates LLC now owns 2,809 shares of the medical equipment provider’s stock worth $714,000 after acquiring an additional 619 shares during the period. Laurus Investment Counsel Inc. grew its holdings in Align Technology by 29.1% during the third quarter. Laurus Investment Counsel Inc. now owns 41,565 shares of the medical equipment provider’s stock worth $10,571,000 after acquiring an additional 9,380 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Align Technology by 2.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,079 shares of the medical equipment provider’s stock worth $1,800,000 after acquiring an additional 136 shares during the period. Marathon Asset Management Ltd grew its holdings in Align Technology by 1.8% during the third quarter. Marathon Asset Management Ltd now owns 154,869 shares of the medical equipment provider’s stock worth $39,387,000 after acquiring an additional 2,776 shares during the period. Finally, Bleakley Financial Group LLC grew its holdings in Align Technology by 30.6% during the third quarter. Bleakley Financial Group LLC now owns 1,114 shares of the medical equipment provider’s stock worth $283,000 after acquiring an additional 261 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Performance

ALGN stock opened at $219.70 on Monday. The stock has a market cap of $16.54 billion, a P/E ratio of 36.19, a P/E/G ratio of 5.33 and a beta of 1.64. The firm has a 50 day simple moving average of $234.57 and a 200 day simple moving average of $252.71. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. Sell-side analysts predict that Align Technology, Inc. will post 7.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ALGN shares. Robert W. Baird lowered their target price on Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Piper Sandler dropped their price target on Align Technology from $315.00 to $285.00 and set an “overweight” rating on the stock in a research note on Thursday. Needham & Company LLC initiated coverage on Align Technology in a research note on Thursday, October 10th. They issued a “hold” rating on the stock. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Finally, Evercore ISI dropped their price target on Align Technology from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Align Technology has an average rating of “Hold” and a consensus price target of $291.25.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. bought 6,500 shares of Align Technology stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the purchase, the director now directly owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

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.