16,064 Align Technology, Inc. $ALGN Shares Purchased by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 18,464.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,151 shares of the medical equipment provider’s stock after acquiring an additional 16,064 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Align Technology were worth $2,140,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Align Technology in the second quarter valued at $745,370,000. Assenagon Asset Management S.A. increased its position in shares of Align Technology by 638.7% during the third quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock worth $629,469,000 after purchasing an additional 4,031,284 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Align Technology by 3,162.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,097,745 shares of the medical equipment provider’s stock worth $278,342,000 after purchasing an additional 2,033,451 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Align Technology by 69,628.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,385,513 shares of the medical equipment provider’s stock valued at $183,335,000 after purchasing an additional 1,383,526 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Align Technology in the 2nd quarter valued at about $99,779,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

NASDAQ ALGN opened at $166.00 on Monday. The firm’s fifty day moving average is $150.38 and its two-hundred day moving average is $168.50. Align Technology, Inc. has a one year low of $130.23 and a one year high of $200.43. The firm has a market cap of $11.89 billion, a PE ratio of 24.16, a P/E/G ratio of 1.80 and a beta of 1.74.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 28th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.03. Align Technology had a net margin of 11.83% and a return on equity of 15.96%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm earned $2.61 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts predict that Align Technology, Inc. will post 9.21 earnings per share for the current year.

Analyst Ratings Changes

ALGN has been the subject of a number of research analyst reports. Mizuho decreased their target price on Align Technology from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 22nd. Morgan Stanley cut their price target on Align Technology from $188.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 29th. Raymond James Financial reiterated a “buy” rating on shares of Align Technology in a research note on Monday, October 5th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, October 29th. Finally, Stifel Nicolaus lowered their target price on shares of Align Technology from $210.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.08.

Align Technology Profile

Align Technology, Inc develops, manufactures and markets digital orthodontic and restorative dentistry products. Its best-known offering is the Invisalign system, which uses a series of custom-made clear aligners to straighten teeth. The company also sells Vivera retainers and iTero intraoral scanners, which support digital dental imaging and treatment planning.

Founded in 1997, Align helped popularize clear-aligner orthodontic treatment as an alternative to traditional braces. Its digital dentistry portfolio also includes exocad software, used by dental professionals and laboratories to design dental restorations.

Headquartered in Tempe, Arizona, Align serves dental professionals and patients in markets around the world.