DekaBank Deutsche Girozentrale raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 19.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,930 shares of the medical equipment provider’s stock after purchasing an additional 3,361 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Align Technology were worth $13,642,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. BerganKDV Wealth Management LLC grew its position in shares of Align Technology by 160.0% in the 3rd quarter. BerganKDV Wealth Management LLC now owns 39 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 24 shares during the period. Harbor Investment Advisory LLC grew its position in shares of Align Technology by 200.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 39 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 26 shares during the period. Baldwin Brothers LLC MA purchased a new stake in shares of Align Technology in the 3rd quarter worth about $27,000. MUFG Americas Holdings Corp purchased a new stake in shares of Align Technology in the 3rd quarter worth about $27,000. Finally, Lindbrook Capital LLC grew its position in shares of Align Technology by 78.3% in the 3rd quarter. Lindbrook Capital LLC now owns 41 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 18 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ ALGN traded down $4.57 on Monday, reaching $415.99. 15,020 shares of the stock were exchanged, compared to its average volume of 896,634. Align Technology, Inc. has a one year low of $372.62 and a one year high of $737.45. The firm has a market capitalization of $32.78 billion, a PE ratio of 43.36, a PEG ratio of 2.93 and a beta of 1.61. The company’s 50-day simple moving average is $465.89 and its two-hundred day simple moving average is $564.32.
Align Technology (NASDAQ:ALGN – Get Rating) last released its earnings results on Wednesday, February 2nd. The medical equipment provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.13. Align Technology had a net margin of 19.53% and a return on equity of 22.19%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $2.00 EPS. The firm’s revenue was up 23.6% compared to the same quarter last year. As a group, research analysts predict that Align Technology, Inc. will post 11.34 earnings per share for the current year.
Several analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Align Technology in a research report on Monday, January 31st. They set an “overweight” rating and a $575.00 price objective on the stock. StockNews.com assumed coverage on shares of Align Technology in a research report on Thursday, March 31st. They set a “hold” rating on the stock. UBS Group raised shares of Align Technology from a “neutral” rating to a “buy” rating and cut their price objective for the company from $880.00 to $620.00 in a research report on Monday, January 31st. Credit Suisse Group cut their price objective on shares of Align Technology from $782.00 to $722.00 and set an “outperform” rating on the stock in a research report on Thursday, February 3rd. Finally, Zacks Investment Research upgraded shares of Align Technology from a “sell” rating to a “hold” rating and set a $454.00 target price on the stock in a research note on Tuesday, March 22nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $693.38.
About Align Technology (Get Rating)
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.
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