Zions Bancorporation National Association UT Increases Position in Align Technology, Inc. $ALGN

Zions Bancorporation National Association UT boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3,620.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,874 shares of the medical equipment provider’s stock after purchasing an additional 4,743 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Align Technology were worth $610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Align Technology by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock valued at $1,624,000 after buying an additional 469 shares in the last quarter. Focus Partners Wealth raised its position in Align Technology by 5.2% during the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after acquiring an additional 151 shares during the period. Sivia Capital Partners LLC purchased a new position in Align Technology during the second quarter valued at $204,000. Envestnet Portfolio Solutions Inc. grew its position in shares of Align Technology by 4.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,372 shares of the medical equipment provider’s stock valued at $449,000 after purchasing an additional 102 shares during the period. Finally, ARK Investment Management LLC increased its stake in shares of Align Technology by 3.7% during the second quarter. ARK Investment Management LLC now owns 6,205 shares of the medical equipment provider’s stock worth $1,175,000 after purchasing an additional 221 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALGN shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, October 30th. Morgan Stanley raised their target price on Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Leerink Partners boosted their price target on Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Stifel Nicolaus raised their price objective on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, HSBC lifted their target price on shares of Align Technology from $140.00 to $150.00 in a research note on Friday, October 31st. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $195.58.

Align Technology Stock Up 0.2%

Shares of ALGN opened at $187.22 on Wednesday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.30. The company has a market capitalization of $13.43 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.05 and a beta of 1.84. The stock has a fifty day simple moving average of $168.21 and a two-hundred day simple moving average of $148.35.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data 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 net margin of 10.17% and a return on equity of 15.16%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Align Technology’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, 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.