ArrowMark Colorado Holdings LLC Has $27.87 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

ArrowMark Colorado Holdings LLC lessened its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,586 shares of the medical equipment provider’s stock after selling 3,511 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.15% of Align Technology worth $27,870,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mather Group LLC. increased its stake in Align Technology by 52.5% in the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 42 shares during the period. Quarry LP increased its stake in shares of Align Technology by 53.0% in the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 44 shares during the last quarter. Crewe Advisors LLC raised its holdings in shares of Align Technology by 36.8% during the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 46 shares in the last quarter. Empirical Finance LLC boosted its position in Align Technology by 2.1% during the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after purchasing an additional 50 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Align Technology by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock valued at $2,143,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ALGN shares. Piper Sandler cut their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Morgan Stanley cut their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Stifel Nicolaus cut their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, 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 report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Align Technology currently has a consensus rating of “Hold” and a consensus target price of $276.38.

Align Technology Stock Up 1.4 %

ALGN opened at $232.77 on Monday. The stock’s 50 day moving average price is $226.43 and its two-hundred day moving average price is $236.00. The firm has a market capitalization of $17.38 billion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 6.03 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Align Technology’s revenue was up 1.8% compared to the same quarter last year. As a group, analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current year.

About Align Technology

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.