DDD Partners LLC Invests $1.16 Million in Align Technology, Inc. $ALGN

DDD Partners LLC bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, Holdings Channel.com reports. The firm bought 9,228 shares of the medical equipment provider’s stock, valued at approximately $1,156,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ALGN. Atria Investments Inc raised its holdings in Align Technology by 4.9% during the 2nd quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 74 shares during the last quarter. IFP Advisors Inc increased its position in shares of Align Technology by 5.7% during the second quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock worth $270,000 after buying an additional 77 shares during the period. Arizona State Retirement System raised its stake in Align Technology by 0.4% during the third quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock worth $2,553,000 after buying an additional 79 shares during the last quarter. Sentry Investment Management LLC lifted its holdings in Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 79 shares during the period. Finally, Rothschild Investment LLC boosted its position in Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Up 1.6%

NASDAQ ALGN opened at $186.77 on Friday. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $208.65. The business has a 50 day moving average price of $167.07 and a 200-day moving average price of $148.38. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 2.01 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. Align Technology’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 EPS. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ALGN shares. Mizuho lifted their price objective on Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Morgan Stanley lifted their target price on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Jefferies Financial Group raised their price objective on shares of Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $195.92.

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.