Stonehage Fleming Financial Services Holdings Ltd Buys Shares of 3,729 Align Technology, Inc. $ALGN

Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 2nd quarter, HoldingsChannel reports. The firm bought 3,729 shares of the medical equipment provider’s stock, valued at approximately $629,000.

Other large investors have also recently made changes to their positions in the company. Capital International Investors lifted its holdings in Align Technology by 52.2% during the 4th quarter. Capital International Investors now owns 4,643,221 shares of the medical equipment provider’s stock worth $725,039,000 after purchasing an additional 1,592,848 shares in the last quarter. BlackRock Inc. purchased a new position in Align Technology during the 2nd quarter valued at about $745,370,000. Invesco Ltd. grew its holdings in Align Technology by 37.4% during the 3rd quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider’s stock valued at $187,521,000 after buying an additional 407,559 shares in the last quarter. Capital World Investors increased its position in shares of Align Technology by 13.2% during the fourth quarter. Capital World Investors now owns 1,490,503 shares of the medical equipment provider’s stock valued at $232,742,000 after buying an additional 173,641 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Align Technology by 72.0% during the third quarter. Bank of America Corp DE now owns 1,353,125 shares of the medical equipment provider’s stock valued at $169,438,000 after buying an additional 566,488 shares during the period. 88.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ALGN shares. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, July 30th. Weiss Ratings lowered shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Evercore upped their target price on shares of Align Technology from $200.00 to $220.00 in a report on Thursday, April 30th. UBS Group reiterated a “neutral” rating and issued a $189.00 target price on shares of Align Technology in a research note on Thursday, July 23rd. Finally, BMO Capital Markets initiated coverage on shares of Align Technology in a report on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and a consensus price target of $206.36.

Align Technology Stock Down 0.2%

Shares of NASDAQ ALGN opened at $158.84 on Friday. The stock’s 50-day simple moving average is $173.50 and its two-hundred day simple moving average is $175.27. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $200.43. The firm has a market capitalization of $11.38 billion, a P/E ratio of 27.62, a P/E/G ratio of 1.69 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company posted $2.49 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts anticipate that Align Technology, Inc. will post 9.38 EPS for the current fiscal 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.