Align Technology, Inc. $ALGN Position Raised by Cambiar Investors LLC

Cambiar Investors LLC raised its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 43.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,911 shares of the medical equipment provider’s stock after purchasing an additional 22,923 shares during the quarter. Cambiar Investors LLC owned about 0.10% of Align Technology worth $9,506,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. bought a new position in Align Technology during the third quarter valued at about $26,000. Rothschild Investment LLC raised its position in Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 87 shares in the last quarter. True Wealth Design LLC lifted its holdings in Align Technology by 7,650.0% in the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 153 shares during the last quarter. Quent Capital LLC bought a new position in shares of Align Technology during the 3rd quarter valued at about $30,000. Finally, TD Private Client Wealth LLC grew its stake in shares of Align Technology by 135.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 137 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALGN has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Align Technology from $142.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Evercore ISI cut their price objective on Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. Mizuho lifted their target price on Align Technology from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Leerink Partners boosted their target price on Align Technology from $189.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Finally, HSBC increased their price target on Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $176.82.

Align Technology Trading Down 0.4%

Shares of ALGN stock opened at $167.04 on Wednesday. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 1.88 and a beta of 1.83. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $232.20. The stock’s fifty day simple moving average is $159.35 and its 200-day simple moving average is $149.57.

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

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.