denkapparat Operations GmbH Takes $607,000 Position in Align Technology, Inc. $ALGN

denkapparat Operations GmbH acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,600 shares of the medical equipment provider’s stock, valued at approximately $607,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in Align Technology by 37.2% in the 1st quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Align Technology by 3.7% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,896 shares of the medical equipment provider’s stock valued at $296,000 after acquiring an additional 68 shares during the period. Blue Trust Inc. increased its holdings in shares of Align Technology by 77.5% during the first quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. First Bank & Trust raised its holdings in Align Technology by 5.0% in the 2nd quarter. First Bank & Trust now owns 1,599 shares of the medical equipment provider’s stock worth $270,000 after acquiring an additional 76 shares during the last quarter. Finally, M.E. Allison & CO. Inc. grew its position in Align Technology by 1.9% during the second quarter. M.E. Allison & CO. Inc. now owns 4,235 shares of the medical equipment provider’s stock valued at $714,000 after buying an additional 80 shares during the period. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALGN. Weiss Ratings downgraded Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Wall Street Zen downgraded Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. UBS Group restated a “neutral” rating and issued a $189.00 price objective on shares of Align Technology in a report on Thursday, July 23rd. Zacks Research lowered Align Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Finally, BMO Capital Markets started coverage on Align Technology in a research note on Wednesday, July 8th. They set an “outperform” rating and a $209.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $206.36.

Align Technology Stock Performance

Align Technology stock opened at $158.63 on Friday. The firm has a market capitalization of $11.36 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 1.70 and a beta of 1.65. The company has a 50 day moving average price of $171.51 and a 200 day moving average price of $174.00. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $200.43.

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

About Align Technology

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.