Metis Global Partners LLC Acquires 94 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Metis Global Partners LLC raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.5% during the third quarter, HoldingsChannel reports. The firm owned 2,780 shares of the medical equipment provider’s stock after purchasing an additional 94 shares during the period. Metis Global Partners LLC’s holdings in Align Technology were worth $707,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in Align Technology by 4,391.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock valued at $117,879,000 after acquiring an additional 477,380 shares in the last quarter. Swedbank AB purchased a new stake in shares of Align Technology during the 1st quarter worth $96,117,000. Bares Capital Management Inc. boosted its position in Align Technology by 44.4% during the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock valued at $268,871,000 after purchasing an additional 252,220 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Align Technology by 127.4% during the second quarter. Point72 Asset Management L.P. now owns 343,512 shares of the medical equipment provider’s stock valued at $82,934,000 after purchasing an additional 192,474 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Align Technology by 371.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 218,779 shares of the medical equipment provider’s stock valued at $71,742,000 after purchasing an additional 172,330 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ALGN. Robert W. Baird decreased their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. 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. 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 report on Thursday, October 24th. Finally, Evercore ISI lowered their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Hold” and an average price target of $276.38.

Align Technology Stock Performance

Align Technology stock opened at $223.69 on Monday. The business’s 50-day simple moving average is $228.85 and its two-hundred day simple moving average is $239.62. The company has a market cap of $16.70 billion, a PE ratio of 38.17, a PEG ratio of 5.79 and a beta of 1.65. 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 issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts predict that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

Align Technology 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.