Pathstone Holdings LLC Has $2.65 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Pathstone Holdings LLC lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 22.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,428 shares of the medical equipment provider’s stock after selling 3,081 shares during the period. Pathstone Holdings LLC’s holdings in Align Technology were worth $2,652,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans grew its holdings in shares of Align Technology by 9.2% during the third quarter. Thrivent Financial for Lutherans now owns 342,377 shares of the medical equipment provider’s stock worth $87,074,000 after purchasing an additional 28,924 shares during the last quarter. Natixis Advisors LLC boosted its position in Align Technology by 21.8% during the 3rd quarter. Natixis Advisors LLC now owns 18,654 shares of the medical equipment provider’s stock worth $4,744,000 after buying an additional 3,344 shares during the period. Empirical Finance LLC grew its holdings in Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock worth $632,000 after acquiring an additional 50 shares during the last quarter. CIBC Asset Management Inc increased its position in Align Technology by 8.5% in the 3rd quarter. CIBC Asset Management Inc now owns 10,411 shares of the medical equipment provider’s stock valued at $2,648,000 after acquiring an additional 812 shares during the period. Finally, ING Groep NV increased its position in Align Technology by 201.4% in the 3rd quarter. ING Groep NV now owns 28,391 shares of the medical equipment provider’s stock valued at $7,220,000 after acquiring an additional 18,970 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Up 6.5 %

NASDAQ:ALGN opened at $240.52 on Tuesday. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40. The company has a fifty day moving average of $228.36 and a 200-day moving average of $237.28. The firm has a market capitalization of $17.95 billion, a P/E ratio of 41.04, a P/E/G ratio of 5.85 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data 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 company had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 EPS. On average, analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ALGN shares. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Morgan Stanley reduced their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. 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. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Finally, Robert W. Baird lowered their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One equities research 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. According to MarketBeat.com, Align Technology has a consensus rating of “Hold” and an average target price of $276.38.

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.