The Manufacturers Life Insurance Company Has $18.91 Million Position in Align Technology, Inc. (NASDAQ:ALGN)

The Manufacturers Life Insurance Company increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,354 shares of the medical equipment provider’s stock after acquiring an additional 255 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Align Technology worth $18,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in shares of Align Technology during the 1st quarter valued at about $29,000. Cullen Frost Bankers Inc. lifted its stake in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 94 shares during the last quarter. Rothschild Investment LLC bought a new stake in Align Technology in the second quarter worth approximately $26,000. Innealta Capital LLC acquired a new position in shares of Align Technology during the 2nd quarter worth $26,000. Finally, Versant Capital Management Inc raised its holdings in shares of Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Up 1.4 %

ALGN stock opened at $232.77 on Friday. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40. The company has a market cap of $17.38 billion, a PE ratio of 39.72, a price-to-earnings-growth ratio of 5.95 and a beta of 1.65. The business’s 50-day simple moving average is $226.43 and its 200 day simple moving average is $236.31.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. Align Technology’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 earnings per share. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current year.

Analysts Set New Price Targets

ALGN has been the topic of several recent research reports. Morgan Stanley cut their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Evercore ISI reduced their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus lowered their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Robert W. Baird reduced their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $276.38.

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.