SG Americas Securities LLC Purchases 32,324 Shares of Align Technology, Inc. $ALGN

SG Americas Securities LLC grew its position in Align Technology, Inc. (NASDAQ:ALGN) by 195.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,861 shares of the medical equipment provider’s stock after purchasing an additional 32,324 shares during the period. SG Americas Securities LLC’s holdings in Align Technology were worth $6,118,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Czech National Bank increased its stake in Align Technology by 3.3% during the 2nd quarter. Czech National Bank now owns 16,654 shares of the medical equipment provider’s stock worth $3,153,000 after purchasing an additional 537 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Align Technology in the second quarter valued at approximately $306,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Align Technology during the third quarter worth $1,327,000. Envestnet Portfolio Solutions Inc. lifted its position in Align Technology by 4.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,372 shares of the medical equipment provider’s stock valued at $449,000 after acquiring an additional 102 shares in the last quarter. Finally, Navera Investment Management Ltd. lifted its position in Align Technology by 3.0% in the 2nd quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock valued at $149,126,000 after acquiring an additional 23,080 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of ALGN opened at $172.79 on Friday. The firm has a 50-day moving average of $151.60 and a 200-day moving average of $152.03. The company has a market cap of $12.40 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.83. Align Technology, Inc. has a one year low of $122.00 and a one year high of $237.23.

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

Analysts Set New Price Targets

ALGN has been the subject of a number of research reports. Stifel Nicolaus set a $200.00 target price on Align Technology in a report on Thursday, October 30th. Leerink Partners increased their price objective on Align Technology from $172.00 to $189.00 in a report on Thursday, October 30th. UBS Group cut their target price on Align Technology from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. Jefferies Financial Group lifted their price objective on shares of Align Technology from $140.00 to $155.00 in a report on Thursday, October 30th. Finally, Evercore ISI reduced their target price on shares of Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Align Technology presently has a consensus rating of “Hold” and a consensus target price of $172.18.

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.