Align Technology, Inc. $ALGN Shares Bought by CYBER HORNET ETFs LLC

CYBER HORNET ETFs LLC lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 4,725.8% during the second quarter, Holdings Channel reports. The institutional investor owned 8,783 shares of the medical equipment provider’s stock after buying an additional 8,601 shares during the quarter. Align Technology makes up approximately 0.5% of CYBER HORNET ETFs LLC’s investment portfolio, making the stock its 27th largest position. CYBER HORNET ETFs LLC’s holdings in Align Technology were worth $1,481,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ALGN. Sunbelt Securities Inc. grew its holdings in Align Technology by 222.4% during the fourth quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 109 shares during the period. Blue Trust Inc. lifted its holdings in Align Technology by 77.5% in the 1st 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 during the last quarter. Tobam bought a new position in shares of Align Technology during the 4th quarter valued at about $30,000. Hollencrest Capital Management bought a new position in shares of Align Technology during the 1st quarter valued at about $34,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Align Technology by 1,773.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 281 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 266 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALGN. Wall Street Zen downgraded shares of Align Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. BMO Capital Markets began coverage on shares of Align Technology in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 price target on the stock. UBS Group reaffirmed a “neutral” rating and issued a $189.00 price target on shares of Align Technology in a report on Thursday, July 23rd. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Thursday, July 30th. Finally, Zacks Research cut Align Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.36.

Align Technology Stock Performance

NASDAQ ALGN opened at $158.63 on Monday. The firm’s 50 day moving average price is $171.51 and its two-hundred day moving average price is $173.91. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $200.43. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 1.69 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its 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. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.49 earnings per share. On average, research analysts forecast that Align Technology, Inc. will post 9.38 EPS for the current fiscal year.

Align Technology 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.