3,629 Shares in Align Technology, Inc. $ALGN Bought by Penserra Capital Management LLC

Penserra Capital Management LLC bought a new stake in Align Technology, Inc. (NASDAQ:ALGNFree Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,629 shares of the medical equipment provider’s stock, valued at approximately $454,000.

A number of other hedge funds have also made changes to their positions in ALGN. Norges Bank purchased a new position in Align Technology during the 2nd quarter valued at about $155,297,000. Ninety One UK Ltd grew its position in shares of Align Technology by 18.3% in the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock valued at $283,898,000 after purchasing an additional 350,883 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Align Technology by 94.5% during the 2nd quarter. Nordea Investment Management AB now owns 638,341 shares of the medical equipment provider’s stock worth $121,055,000 after purchasing an additional 310,091 shares in the last quarter. Bank of America Corp DE raised its position in shares of Align Technology by 60.7% during the 2nd quarter. Bank of America Corp DE now owns 786,637 shares of the medical equipment provider’s stock worth $148,934,000 after purchasing an additional 297,117 shares during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in Align Technology in the 2nd quarter valued at approximately $55,061,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

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Align Technology Stock Performance

Align Technology stock opened at $187.60 on Monday. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $224.18. The firm has a 50 day moving average price of $163.26 and a 200 day moving average price of $148.06. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.10 and a beta of 1.84.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. Align Technology’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $2.44 EPS. Sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ALGN shares. Wells Fargo & Company boosted their price target on Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday. Wall Street Zen raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Stifel Nicolaus lifted their price target on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday. Finally, UBS Group boosted 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. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Align Technology currently has a consensus rating of “Hold” and a consensus target price of $195.92.

View Our Latest Stock Report on Align Technology

Align Technology Company Profile

(Free Report)

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.

See Also

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

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