Thrivent Financial for Lutherans Acquires 46,935 Shares of Align Technology, Inc. $ALGN

Thrivent Financial for Lutherans grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 17.1% during the second quarter, Holdings Channel reports. The firm owned 321,897 shares of the medical equipment provider’s stock after purchasing an additional 46,935 shares during the period. Thrivent Financial for Lutherans’ holdings in Align Technology were worth $60,945,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Rothschild Investment LLC raised its holdings 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 buying an additional 87 shares in the last quarter. True Wealth Design LLC boosted its position in Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 153 shares during the period. Cromwell Holdings LLC boosted its position in Align Technology by 2,900.0% during the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 174 shares during the period. CYBER HORNET ETFs LLC acquired a new position in Align Technology during the second quarter valued at approximately $36,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Align Technology in the second quarter valued at approximately $38,000. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $200.00 target price (up from $190.00) on shares of Align Technology in a research note on Thursday, October 30th. Evercore ISI lowered their price target on Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings lowered Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Mizuho decreased their target price on Align Technology from $210.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, October 13th. Finally, Zacks Research raised Align Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $172.18.

Align Technology Price Performance

Shares of Align Technology stock opened at $165.43 on Monday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $238.11. The firm has a market capitalization of $11.87 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 2.01 and a beta of 1.86. The company’s fifty day moving average price is $140.41 and its two-hundred day moving average price is $154.73.

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

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.