Rhumbline Advisers Has $18.14 Million Stock Position in Align Technology, Inc. $ALGN

Rhumbline Advisers increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 6.0% during the third quarter, HoldingsChannel reports. The firm owned 144,880 shares of the medical equipment provider’s stock after acquiring an additional 8,258 shares during the period. Rhumbline Advisers’ holdings in Align Technology were worth $18,142,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ALGN. Sentry Investment Management LLC increased its position in shares of Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in Align Technology in the 3rd quarter worth approximately $26,000. Rothschild Investment LLC grew its position in Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares in the last quarter. True Wealth Design LLC raised its stake in Align Technology by 7,650.0% during the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 153 shares during the period. Finally, Quent Capital LLC acquired a new stake in Align Technology during the 3rd quarter valued at $30,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Trading Up 0.2%

Shares of NASDAQ:ALGN opened at $187.22 on Wednesday. The stock has a market capitalization of $13.43 billion, a PE ratio of 33.08, a P/E/G ratio of 2.05 and a beta of 1.84. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30. The firm has a fifty day moving average price of $168.21 and a 200 day moving average price of $148.35.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $2.44 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALGN. 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 objective for the company. UBS Group increased their price target on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. HSBC increased their target price on shares of Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. Finally, Evercore boosted their price target on shares of Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $195.58.

Align Technology 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.