Align Technology, Inc. $ALGN Stock Position Raised by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,880 shares of the medical equipment provider’s stock after acquiring an additional 8,258 shares during the period. Rhumbline Advisers owned about 0.20% of Align Technology worth $18,142,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Krilogy Financial LLC bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $461,000. Bryce Point Capital LLC acquired a new stake in Align Technology in the third quarter worth $624,000. ProShare Advisors LLC lifted its stake in Align Technology by 1.5% in the third quarter. ProShare Advisors LLC now owns 12,338 shares of the medical equipment provider’s stock valued at $1,545,000 after buying an additional 187 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Align Technology by 1.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 18,862 shares of the medical equipment provider’s stock valued at $2,362,000 after acquiring an additional 285 shares during the period. Finally, American Assets Inc. grew its position in shares of Align Technology by 20.0% during the third quarter. American Assets Inc. now owns 6,000 shares of the medical equipment provider’s stock worth $751,000 after acquiring an additional 1,000 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Piper Sandler lifted their price target on Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Stifel Nicolaus boosted their price objective on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. HSBC raised their target price on Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. Finally, Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Hold” and an average price target of $195.58.

Align Technology Trading Up 0.2%

NASDAQ:ALGN opened at $187.22 on Wednesday. The company has a 50-day moving average of $168.21 and a 200-day moving average of $148.35. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 2.05 and a beta of 1.84. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $2.44 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.