3,488 Align Technology, Inc. $ALGN Shares Purchased by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 10.5% during the third quarter, Holdings Channel reports. The institutional investor owned 36,696 shares of the medical equipment provider’s stock after acquiring an additional 3,488 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Align Technology were worth $5,334,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hollencrest Capital Management purchased a new position in Align Technology during the 1st quarter valued at about $34,000. Osterweis Capital Management Inc. purchased a new stake in Align Technology in the second quarter worth about $36,000. Global Retirement Partners LLC purchased a new stake in Align Technology in the second quarter worth about $38,000. Bessemer Group Inc. increased its stake in shares of Align Technology by 37.2% during the first quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock valued at $43,000 after purchasing an additional 67 shares in the last quarter. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Align Technology during the second quarter valued at approximately $46,000. 88.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen cut Align Technology from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Mizuho cut their price target on Align Technology from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 22nd. Stifel Nicolaus reduced their price objective on Align Technology from $210.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Weiss Ratings raised Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. Finally, Leerink Partners dropped their target price on Align Technology from $235.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $193.08.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $154.13 on Tuesday. The firm’s 50 day moving average price is $150.29 and its 200-day moving average price is $168.68. Align Technology, Inc. has a 52-week low of $130.23 and a 52-week high of $200.43. The company has a market cap of $11.04 billion, a PE ratio of 22.44, a P/E/G ratio of 1.65 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.03. Align Technology had a net margin of 11.83% and a return on equity of 16.11%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm earned $2.61 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts forecast that Align Technology, Inc. will post 9.26 earnings per share for the current fiscal year.

Align Technology Profile

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align’s products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.