Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,486 shares of the medical equipment provider’s stock after buying an additional 50 shares during the quarter. Empirical Finance LLC’s holdings in Align Technology were worth $632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. purchased a new position in shares of Align Technology in the 1st quarter valued at approximately $216,000. Orion Portfolio Solutions LLC raised its holdings in shares of Align Technology by 13.9% in the first quarter. Orion Portfolio Solutions LLC now owns 7,318 shares of the medical equipment provider’s stock worth $2,400,000 after buying an additional 892 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Align Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock worth $2,746,378,000 after buying an additional 25,362 shares during the period. Edgestream Partners L.P. grew its holdings in shares of Align Technology by 35.7% during the first quarter. Edgestream Partners L.P. now owns 7,445 shares of the medical equipment provider’s stock valued at $2,441,000 after buying an additional 1,960 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Align Technology by 116.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,402 shares of the medical equipment provider’s stock valued at $1,772,000 after acquiring an additional 2,910 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley dropped their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Evercore ISI decreased their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Finally, Robert W. Baird decreased their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $276.38.

Align Technology Price Performance

Align Technology stock opened at $223.69 on Monday. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The stock has a market capitalization of $16.70 billion, a PE ratio of 38.17, a price-to-earnings-growth ratio of 5.79 and a beta of 1.65. The business has a 50 day simple moving average of $228.85 and a 200-day simple moving average of $239.62.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior 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 fiscal year.

Align Technology Company Profile

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.