Marex Group plc Buys New Position in Align Technology, Inc. $ALGN

Marex Group plc bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 2nd quarter, Holdings Channel reports. The fund bought 5,039 shares of the medical equipment provider’s stock, valued at approximately $954,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP acquired a new stake in shares of Align Technology during the 2nd quarter worth approximately $38,825,000. CYBER HORNET ETFs LLC bought a new position in Align Technology during the second quarter worth $36,000. Rexford Capital Inc. bought a new position in Align Technology during the second quarter worth $151,000. FORA Capital LLC acquired a new stake in Align Technology in the second quarter worth $554,000. Finally, Tower Research Capital LLC TRC increased its stake in Align Technology by 133.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,292 shares of the medical equipment provider’s stock valued at $1,002,000 after purchasing an additional 3,021 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALGN. Mizuho dropped their price objective on shares of Align Technology from $210.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, October 13th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price target (up from $190.00) on shares of Align Technology in a research note on Thursday, October 30th. Weiss Ratings cut Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Barclays initiated coverage on Align Technology in a research report on Monday, December 8th. They set an “equal weight” rating and a $170.00 target price on the stock. Finally, Stifel Nicolaus set a $200.00 target price on Align Technology in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Align Technology presently has an average rating of “Hold” and a consensus target price of $172.18.

Align Technology Stock Up 1.0%

Shares of Align Technology stock opened at $165.43 on Monday. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $238.11. The business has a 50 day moving average price of $140.41 and a 200-day moving average price of $154.73. The company has a market cap of $11.87 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 2.01 and a beta of 1.86.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.23. The business had revenue of $995.69 million during the quarter, compared to the consensus estimate of $980.75 million. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.Align Technology’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.35 earnings per share. As a group, research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

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.