Align Technology, Inc. $ALGN Stock: Signaturefd LLC Grows Holdings

Signaturefd LLC increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2,399.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,022 shares of the medical equipment provider’s stock after acquiring an additional 29,781 shares during the quarter. Signaturefd LLC’s holdings in Align Technology were worth $4,132,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. increased its stake in Align Technology by 638.7% in the third quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock valued at $629,469,000 after purchasing an additional 4,031,284 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Align Technology during the second quarter valued at about $745,370,000. Vontobel Holding Ltd. boosted its position in shares of Align Technology by 69,628.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,385,513 shares of the medical equipment provider’s stock worth $183,335,000 after purchasing an additional 1,383,526 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Align Technology by 4.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,054,633 shares of the medical equipment provider’s stock worth $180,796,000 after purchasing an additional 49,220 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Align Technology by 21.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 972,519 shares of the medical equipment provider’s stock worth $166,696,000 after purchasing an additional 170,523 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Price Performance

ALGN stock opened at $154.51 on Monday. Align Technology, Inc. has a twelve month low of $130.23 and a twelve month high of $200.43. The stock’s 50 day moving average is $151.62 and its 200-day moving average is $166.51. The firm has a market capitalization of $11.07 billion, a PE ratio of 26.87, a P/E/G ratio of 1.66 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Align Technology had a return on equity of 15.86% and a net margin of 9.99%. Align Technology’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.49 earnings per share. On average, equities research analysts anticipate that Align Technology, Inc. will post 9.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ALGN. UBS Group reaffirmed a “neutral” rating and issued a $189.00 target price on shares of Align Technology in a research report on Thursday, July 23rd. Zacks Research downgraded Align Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Raymond James Financial reaffirmed a “buy” rating on shares of Align Technology in a research note on Monday, October 5th. Mizuho cut their price target on Align Technology from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Wall Street Zen cut Align Technology from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and a consensus price target of $190.93.

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.