Veriti Management LLC increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 11.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,420 shares of the medical equipment provider's stock after acquiring an additional 142 shares during the period. Veriti Management LLC's holdings in Align Technology were worth $336,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the stock. LPL Financial LLC lifted its stake in shares of Align Technology by 4.4% in the fourth quarter. LPL Financial LLC now owns 17,654 shares of the medical equipment provider's stock worth $11,602,000 after buying an additional 736 shares during the last quarter. Eaton Vance Management boosted its holdings in Align Technology by 2.0% during the fourth quarter. Eaton Vance Management now owns 27,592 shares of the medical equipment provider's stock valued at $17,276,000 after acquiring an additional 554 shares during the period. Commerce Bank grew its position in shares of Align Technology by 1.1% in the fourth quarter. Commerce Bank now owns 5,192 shares of the medical equipment provider's stock valued at $3,412,000 after purchasing an additional 54 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Align Technology by 16.7% in the fourth quarter. Guggenheim Capital LLC now owns 30,417 shares of the medical equipment provider's stock worth $19,989,000 after purchasing an additional 4,347 shares during the period. Finally, PDT Partners LLC acquired a new position in shares of Align Technology during the 4th quarter worth about $657,000. 86.50% of the stock is owned by institutional investors.
Get Align Technology alerts:Align Technology Trading Down 1.0 %
Shares of ALGN opened at $212.10 on Thursday. The stock has a market cap of $16.57 billion, a PE ratio of 27.12, a PEG ratio of 6.58 and a beta of 1.80. Align Technology, Inc. has a 1 year low of $206.67 and a 1 year high of $713.33. The stock has a 50 day simple moving average of $259.66 and a 200-day simple moving average of $298.51.
Align Technology (NASDAQ:ALGN – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The medical equipment provider reported $1.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.22). Align Technology had a net margin of 15.52% and a return on equity of 17.47%. The company had revenue of $969.60 million for the quarter, compared to the consensus estimate of $986.05 million. During the same period in the previous year, the business posted $2.51 earnings per share. The firm's revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that Align Technology, Inc. will post 7.73 EPS for the current fiscal year.Analyst Ratings Changes
ALGN has been the topic of several recent analyst reports. UBS Group dropped their price target on Align Technology from $380.00 to $370.00 and set a "buy" rating on the stock in a research report on Friday, July 29th. Morgan Stanley reduced their price target on shares of Align Technology from $438.00 to $402.00 and set an "overweight" rating for the company in a report on Thursday, July 28th. Robert W. Baird dropped their price objective on shares of Align Technology from $450.00 to $410.00 and set an "outperform" rating on the stock in a report on Thursday, July 28th. Evercore ISI reduced their target price on shares of Align Technology from $310.00 to $285.00 in a research note on Thursday, July 28th. Finally, Stifel Nicolaus lowered their price target on Align Technology from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, July 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Align Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $358.33.
Align Technology Profile
(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.
See Also
- Get a free copy of the StockNews.com research report on Align Technology (ALGN)
- A Trio of Q3 Winners With Room to Run
- This Little Known Small Cap Is Up 139%: Is The Stock A Buy?
- Can HCA Healthcare Weather the Normalization?
- Can United Natural Foods Fight Both Inflation and the Fed?
- Mullen Automotive Is Ready To Get In Gear
Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGN – Get Rating).
Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.