Investment House LLC Makes New $6.39 Million Investment in Align Technology, Inc. $ALGN

Investment House LLC acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 51,000 shares of the medical equipment provider’s stock, valued at approximately $6,386,000. Investment House LLC owned about 0.07% of Align Technology as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. purchased a new position in shares of Align Technology during the 2nd quarter worth about $306,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Align Technology in the third quarter valued at approximately $1,327,000. Nordea Investment Management AB increased its position in Align Technology by 20.7% during the third quarter. Nordea Investment Management AB now owns 770,360 shares of the medical equipment provider’s stock worth $95,178,000 after purchasing an additional 132,019 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Align Technology by 4.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,372 shares of the medical equipment provider’s stock worth $449,000 after purchasing an additional 102 shares during the period. Finally, Navera Investment Management Ltd. raised its stake in Align Technology by 3.0% during the second quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock worth $149,126,000 after purchasing an additional 23,080 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALGN. Mizuho upped their price objective on Align Technology from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday. UBS Group lowered their price target on Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th. HSBC lifted their price objective on Align Technology from $140.00 to $150.00 in a research note on Friday, October 31st. Finally, Barclays began coverage on Align Technology in a report on Monday, December 8th. They set an “equal weight” rating and a $170.00 target price for the company. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Align Technology presently has an average rating of “Hold” and an average target price of $176.82.

Align Technology Price Performance

Shares of ALGN opened at $168.73 on Friday. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $234.39. The stock’s 50-day moving average is $157.96 and its two-hundred day moving average is $150.43. The stock has a market cap of $12.11 billion, a PE ratio of 32.70, a P/E/G ratio of 1.90 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, beating the consensus estimate of $2.38 by $0.23. The business had revenue of $995.69 million for the quarter, compared to the consensus estimate of $980.75 million. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $2.35 EPS. On average, research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share 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.