Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 34.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,091 shares of the medical equipment provider’s stock after purchasing an additional 5,130 shares during the period. Quantinno Capital Management LP’s holdings in Align Technology were worth $5,110,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALGN. Piper Sandler lowered their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Robert W. Baird cut their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley decreased their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Mizuho began coverage on shares of Align Technology in a research note on Wednesday. They issued an “outperform” rating and a $295.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.44.

Align Technology Stock Performance

ALGN stock opened at $232.35 on Friday. The firm’s fifty day moving average is $224.73 and its 200 day moving average is $234.96. The firm has a market cap of $17.34 billion, a PE ratio of 39.65, a P/E/G ratio of 6.10 and a beta of 1.66. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40.

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