Thrivent Financial for Lutherans Lowers Position in Align Technology, Inc. $ALGN

Thrivent Financial for Lutherans trimmed its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 99.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,179 shares of the medical equipment provider’s stock after selling 318,718 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Align Technology were worth $398,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ALGN. National Pension Service purchased a new stake in Align Technology during the third quarter worth $308,000. AlphaQuest LLC purchased a new position in Align Technology in the third quarter valued at $251,000. Arizona State Retirement System raised its position in shares of Align Technology by 0.4% in the third quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock worth $2,553,000 after acquiring an additional 79 shares during the period. Impact Partnership Wealth LLC purchased a new stake in shares of Align Technology during the 3rd quarter worth about $370,000. Finally, AE Wealth Management LLC purchased a new stake in shares of Align Technology during the 3rd quarter worth about $650,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Stifel Nicolaus upped their target price on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Jefferies Financial Group increased their target price on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th. Finally, Barclays started coverage on shares of Align Technology in a research report on Monday, December 8th. They set an “equal weight” rating and a $170.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Align Technology currently has a consensus rating of “Hold” and an average price target of $195.58.

Align Technology Price Performance

ALGN opened at $187.22 on Wednesday. The company’s 50 day simple moving average is $168.21 and its two-hundred day simple moving average is $148.35. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The firm has a market capitalization 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 (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $2.44 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal 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.