Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) by 43.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,010 shares of the medical equipment provider’s stock after purchasing an additional 608 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Align Technology were worth $659,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Align Technology in the 4th quarter valued at $223,610,000. Brown Advisory Inc. raised its holdings in Align Technology by 41.4% in the 4th quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock valued at $413,488,000 after buying an additional 441,754 shares during the period. Envestnet Asset Management Inc. grew its position in Align Technology by 102.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 414,772 shares of the medical equipment provider’s stock valued at $113,648,000 after acquiring an additional 209,419 shares in the last quarter. Avidity Partners Management LP acquired a new position in Align Technology in the 4th quarter valued at about $42,689,000. Finally, DAVENPORT & Co LLC grew its position in Align Technology by 5,179.5% in the 4th quarter. DAVENPORT & Co LLC now owns 114,671 shares of the medical equipment provider’s stock valued at $31,576,000 after acquiring an additional 112,499 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Robert W. Baird boosted their price objective on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Stifel Nicolaus increased their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Piper Sandler decreased their price objective on Align Technology from $375.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, June 21st. OTR Global reissued a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, Evercore ISI decreased their price target on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $346.50.

Get Our Latest Stock Analysis on ALGN

Align Technology Stock Up 0.1 %

Shares of ALGN stock opened at $243.60 on Friday. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The stock has a market cap of $18.34 billion, a P/E ratio of 40.13, a P/E/G ratio of 4.51 and a beta of 1.66. The business has a fifty day simple moving average of $259.94 and a 200-day simple moving average of $283.15.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The business had revenue of $997.43 million during the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.86 earnings per share for the current year.

Align Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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