Bank of Montreal Can raised its position in Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 73.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,192 shares of the medical equipment provider’s stock after purchasing an additional 59,436 shares during the period. Bank of Montreal Can’s holdings in Align Technology were worth $35,722,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Achmea Investment Management B.V. boosted its holdings in Align Technology by 3.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock valued at $2,495,000 after purchasing an additional 339 shares during the period. Tidal Investments LLC raised its position in shares of Align Technology by 122.9% during the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock valued at $1,445,000 after buying an additional 2,430 shares in the last quarter. Swedbank AB raised its position in shares of Align Technology by 2.0% during the 2nd quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider’s stock valued at $72,215,000 after buying an additional 6,005 shares in the last quarter. Baker Avenue Asset Management LP purchased a new stake in shares of Align Technology during the 3rd quarter valued at $4,250,000. Finally, Cetera Investment Advisers raised its position in shares of Align Technology by 914.2% during the 1st quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock valued at $4,140,000 after buying an additional 11,382 shares in the last quarter. 88.43% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Evercore ISI lowered their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $276.38.
Align Technology Stock Up 0.8 %
Shares of Align Technology stock opened at $229.66 on Friday. The firm has a market cap of $17.14 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 6.23 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40. The company’s fifty day simple moving average is $226.83 and its two-hundred day simple moving average is $236.87.
Align Technology (NASDAQ:ALGN – Get Free Report) last announced its quarterly 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 was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.
Align Technology 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.
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