Trifecta Capital Advisors LLC Buys 47,414 Shares of Align Technology, Inc. $ALGN

Trifecta Capital Advisors LLC boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 17,241.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 47,689 shares of the medical equipment provider’s stock after buying an additional 47,414 shares during the period. Trifecta Capital Advisors LLC’s holdings in Align Technology were worth $6,313,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ALGN. Blue Trust Inc. boosted its stake in Align Technology by 77.5% during the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Hollencrest Capital Management acquired a new position in Align Technology during the 1st quarter worth $34,000. Osterweis Capital Management Inc. bought a new stake in shares of Align Technology in the 2nd quarter worth about $36,000. Global Retirement Partners LLC bought a new stake in shares of Align Technology in the 2nd quarter worth about $38,000. Finally, Bessemer Group Inc. increased its position in shares of Align Technology by 37.2% in the 1st quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ALGN shares. Leerink Partners reduced their price target on shares of Align Technology from $235.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 14th. BMO Capital Markets started coverage on Align Technology in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 price target for the company. Raymond James Financial reissued a “buy” rating on shares of Align Technology in a report on Monday, October 5th. Evercore cut Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 price objective on the stock. in a research note on Monday, October 5th. Finally, Robert W. Baird restated a “neutral” rating and set a $162.00 price objective (down from $218.00) on shares of Align Technology in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.00.

Align Technology Price Performance

ALGN stock opened at $151.37 on Thursday. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 1.60 and a beta of 1.67. Align Technology, Inc. has a 1-year low of $130.23 and a 1-year high of $200.43. The firm has a fifty day moving average price of $152.57 and a two-hundred day moving average price of $166.74.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $2.49 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, analysts expect that Align Technology, Inc. will post 9.36 EPS for the current fiscal year.

Align Technology Company Profile

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.