Align Technology, Inc. $ALGN Stock Holdings Boosted by Quadrant Capital Group LLC

Quadrant Capital Group LLC raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1,423.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 45,951 shares of the medical equipment provider’s stock after acquiring an additional 42,935 shares during the quarter. Quadrant Capital Group LLC’s holdings in Align Technology were worth $6,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bessemer Group Inc. grew its position in shares of Align Technology by 37.2% in the first quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock valued at $43,000 after purchasing an additional 67 shares during the period. Blue Trust Inc. raised its position in shares of Align Technology by 77.5% during the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 69 shares during the last quarter. Empirical Finance LLC raised its position in shares of Align Technology by 2.9% during the 2nd quarter. Empirical Finance LLC now owns 2,570 shares of the medical equipment provider’s stock worth $433,000 after purchasing an additional 73 shares during the last quarter. First Bank & Trust raised its position in shares of Align Technology by 5.0% during the 2nd quarter. First Bank & Trust now owns 1,599 shares of the medical equipment provider’s stock worth $270,000 after purchasing an additional 76 shares during the last quarter. Finally, M.E. Allison & CO. Inc. raised its position in shares of Align Technology by 1.9% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 4,235 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 80 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALGN has been the topic of a number of research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $162.00 price target (down from $218.00) on shares of Align Technology in a research note on Thursday, October 15th. UBS Group reiterated a “neutral” rating and set a $189.00 price objective on shares of Align Technology in a research note on Thursday, July 23rd. Stifel Nicolaus cut their price objective on Align Technology from $210.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Weiss Ratings raised Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. Finally, Wall Street Zen downgraded Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and a consensus target price of $194.14.

Align Technology Stock Up 1.0%

Shares of ALGN opened at $150.49 on Wednesday. Align Technology, Inc. has a 52-week low of $130.23 and a 52-week high of $200.43. The firm’s fifty day moving average is $153.02 and its two-hundred day moving average is $166.88. The stock has a market cap of $10.78 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.59 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.49 earnings per share. As a group, research analysts anticipate that Align Technology, Inc. will post 9.36 earnings per share for the current year.

Align Technology Company Profile

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align’s products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.