Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Ascent Group LLC

Ascent Group LLC lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 12.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,783 shares of the medical equipment provider’s stock after purchasing an additional 872 shares during the quarter. Ascent Group LLC’s holdings in Align Technology were worth $1,979,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ALGN. Cetera Investment Advisers lifted its position in shares of Align Technology by 914.2% during the first quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock worth $4,140,000 after purchasing an additional 11,382 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Align Technology during the first quarter worth about $337,000. GAMMA Investing LLC lifted its position in shares of Align Technology by 11.2% during the second quarter. GAMMA Investing LLC now owns 785 shares of the medical equipment provider’s stock worth $190,000 after purchasing an additional 79 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 93 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in Align Technology by 52.5% in the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 42 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Up 0.6 %

Shares of Align Technology stock opened at $234.14 on Tuesday. The firm has a market capitalization of $17.48 billion, a P/E ratio of 39.96, a P/E/G ratio of 6.03 and a beta of 1.65. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40. The firm’s 50 day moving average is $226.43 and its two-hundred day moving average is $236.00.

Align Technology (NASDAQ:ALGN) last announced its earnings results 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 business had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $1.62 earnings per share. As a group, research analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on ALGN shares. Robert W. Baird reduced their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Morgan Stanley reduced their target price 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 reduced their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.