Oak Thistle LLC Buys New Holdings in Align Technology, Inc. $ALGN

Oak Thistle LLC bought a new position in Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, Holdings Channel.com reports. The fund bought 19,230 shares of the medical equipment provider’s stock, valued at approximately $2,408,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALGN. Federated Hermes Inc. boosted its holdings in shares of Align Technology by 31.0% in the 2nd quarter. Federated Hermes Inc. now owns 926,733 shares of the medical equipment provider’s stock worth $175,458,000 after purchasing an additional 219,219 shares during the period. Disciplined Growth Investors Inc. MN grew its stake in Align Technology by 0.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 844,987 shares of the medical equipment provider’s stock worth $159,981,000 after acquiring an additional 7,754 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Align Technology by 32.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 832,313 shares of the medical equipment provider’s stock worth $132,221,000 after purchasing an additional 202,616 shares during the period. Norges Bank purchased a new stake in Align Technology in the second quarter worth about $155,297,000. Finally, Navera Investment Management Ltd. increased its holdings in Align Technology by 3.0% during the second quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock valued at $149,126,000 after buying an additional 23,080 shares during the period. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Up 0.1%

Align Technology stock opened at $162.89 on Wednesday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $237.23. The firm has a market cap of $11.69 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 1.98 and a beta of 1.86. The company’s 50 day moving average is $141.68 and its two-hundred day moving average is $154.46.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on ALGN. Piper Sandler reissued an “overweight” rating and issued a $200.00 price objective (up previously from $190.00) on shares of Align Technology in a research report on Thursday, October 30th. UBS Group lowered their price target on shares of Align Technology from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Morgan Stanley raised their price objective on shares of Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Evercore ISI reduced their price target on Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. Finally, HSBC increased their price objective on shares of Align Technology from $140.00 to $150.00 in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $172.18.

About Align Technology

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.