Align Technology, Inc. $ALGN Stock Acquired by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 3,162.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,097,745 shares of the medical equipment provider’s stock after purchasing an additional 2,033,451 shares during the quarter. Align Technology accounts for 2.6% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 10th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Align Technology were worth $278,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bessemer Group Inc. boosted its holdings in Align Technology by 37.2% during the first quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 67 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Align Technology by 77.5% during the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 69 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of Align Technology by 2.9% during the 2nd quarter. Empirical Finance LLC now owns 2,570 shares of the medical equipment provider’s stock worth $433,000 after acquiring an additional 73 shares in the last quarter. First Bank & Trust boosted its stake in shares of Align Technology by 5.0% during 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 in the last quarter. Finally, M.E. Allison & CO. Inc. grew its holdings in shares of Align Technology by 1.9% in the 2nd quarter. M.E. Allison & CO. Inc. now owns 4,235 shares of the medical equipment provider’s stock worth $714,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALGN. Leerink Partners reduced their price objective on Align Technology from $235.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. BMO Capital Markets began coverage on Align Technology in a research report on Wednesday, July 8th. They set an “outperform” rating and a $209.00 target price on the stock. Evercore lowered Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 target price on the stock. in a report on Monday, October 5th. Robert W. Baird restated a “neutral” rating and issued a $162.00 price target (down from $218.00) on shares of Align Technology in a research report on Thursday, October 15th. Finally, Weiss Ratings raised Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.93.

Align Technology Price Performance

NASDAQ ALGN opened at $154.51 on Monday. Align Technology, Inc. has a fifty-two week low of $130.23 and a fifty-two week high of $200.43. The business has a fifty day moving average of $151.62 and a 200-day moving average of $166.51. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.66 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.02. The business had revenue of $1.06 billion for 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 business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 earnings per share. As a group, analysts anticipate that Align Technology, Inc. will post 9.27 EPS for the current year.

About Align Technology

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align’s products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.