Man Group plc Takes Position in Align Technology, Inc. $ALGN

Man Group plc acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 26,541 shares of the medical equipment provider’s stock, valued at approximately $4,476,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Align Technology by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after buying an additional 469 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Align Technology by 5.2% during the 1st 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 in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Align Technology in the 2nd quarter worth $204,000. EverSource Wealth Advisors LLC raised its position in shares of Align Technology by 55.7% during the second quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider’s stock worth $101,000 after purchasing an additional 190 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Align Technology by 201.7% during the second quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider’s stock valued at $16,712,000 after purchasing an additional 59,010 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $157.58 on Monday. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 1.67 and a beta of 1.65. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $200.43. The business has a fifty day simple moving average of $173.01 and a 200 day simple moving average of $175.03.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $2.49 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts forecast that Align Technology, Inc. will post 9.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ALGN shares. Zacks Research cut Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. UBS Group reiterated a “neutral” rating and issued a $189.00 target price on shares of Align Technology in a report on Thursday, July 23rd. BMO Capital Markets began coverage on shares of Align Technology in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 target price on the stock. Weiss Ratings lowered shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Finally, Wall Street Zen lowered Align Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $206.36.

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.