Align Technology, Inc. $ALGN Stock Holdings Lifted by Applied Fundamental Research LLC

Applied Fundamental Research LLC raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 78.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 55,894 shares of the medical equipment provider’s stock after buying an additional 24,602 shares during the quarter. Align Technology comprises about 6.8% of Applied Fundamental Research LLC’s holdings, making the stock its 10th largest position. Applied Fundamental Research LLC’s holdings in Align Technology were worth $6,999,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ALGN. QRG Capital Management Inc. purchased a new position in Align Technology during the 2nd quarter valued at about $306,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Align Technology in the 3rd quarter valued at about $1,327,000. Nordea Investment Management AB boosted its position in Align Technology by 20.7% during the third quarter. Nordea Investment Management AB now owns 770,360 shares of the medical equipment provider’s stock worth $95,178,000 after acquiring an additional 132,019 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Align Technology by 4.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,372 shares of the medical equipment provider’s stock worth $449,000 after acquiring an additional 102 shares during the period. Finally, Navera Investment Management Ltd. raised its holdings in Align Technology by 3.0% in the 2nd quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock valued at $149,126,000 after acquiring an additional 23,080 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

NASDAQ:ALGN opened at $169.95 on Thursday. Align Technology, Inc. has a one year low of $122.00 and a one year high of $237.23. The business’s 50-day simple moving average is $156.74 and its 200 day simple moving average is $150.80. The stock has a market cap of $12.19 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 1.86 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.23. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The company had revenue of $995.69 million for the quarter, compared to the consensus estimate of $980.75 million. During the same period in the previous year, the business earned $2.35 EPS. Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays initiated coverage on Align Technology in a research note on Monday, December 8th. They issued an “equal weight” rating and a $170.00 price target on the stock. Morgan Stanley increased their price target on shares of Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Zacks Research upgraded Align Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price objective (up from $190.00) on shares of Align Technology in a research note on Thursday, October 30th. Finally, Mizuho lifted their price target on shares of Align Technology from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $174.91.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.