Align Technology, Inc. $ALGN Stock: Krilogy Financial LLC Raises Position

Krilogy Financial LLC increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 254.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,547 shares of the medical equipment provider’s stock after purchasing an additional 6,857 shares during the period. Krilogy Financial LLC’s holdings in Align Technology were worth $1,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. raised its stake in Align Technology by 7.3% during the 3rd quarter. Contravisory Investment Management Inc. now owns 7,036 shares of the medical equipment provider’s stock valued at $1,021,000 after purchasing an additional 479 shares during the period. NorthCrest Asset Manangement LLC boosted its position in shares of Align Technology by 1,973.3% in the third quarter. NorthCrest Asset Manangement LLC now owns 69,372 shares of the medical equipment provider’s stock worth $9,635,000 after buying an additional 66,026 shares during the period. Moody National Bank Trust Division boosted its position in shares of Align Technology by 35.4% in the third quarter. Moody National Bank Trust Division now owns 2,214 shares of the medical equipment provider’s stock worth $322,000 after buying an additional 579 shares during the period. Versant Capital Management Inc grew its holdings in shares of Align Technology by 977.8% during the third quarter. Versant Capital Management Inc now owns 4,796 shares of the medical equipment provider’s stock valued at $642,000 after buying an additional 4,351 shares in the last quarter. Finally, Parrish Capital LLC grew its holdings in shares of Align Technology by 30.7% during the third quarter. Parrish Capital LLC now owns 4,300 shares of the medical equipment provider’s stock valued at $625,000 after buying an additional 1,011 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Robert W. Baird reissued a “neutral” rating and set a $162.00 price target (down from $218.00) on shares of Align Technology in a research report on Thursday. Zacks Research lowered Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, July 30th. Evercore downgraded Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 target price on the stock. in a report on Monday, October 5th. Finally, BMO Capital Markets began coverage on Align Technology in a report on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.14.

Align Technology Stock Up 3.4%

Shares of NASDAQ:ALGN opened at $149.34 on Friday. The firm has a fifty day moving average of $154.54 and a two-hundred day moving average of $167.32. The firm has a market capitalization of $10.70 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.67. Align Technology, Inc. has a 12-month low of $128.65 and a 12-month high of $200.43.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company posted $2.49 EPS. Align Technology’s revenue was up 4.3% on a year-over-year basis. Equities research analysts expect that Align Technology, Inc. will post 9.36 earnings per share for the current fiscal year.

Align Technology Company Profile

Align Technology, Inc is a medical device and digital technology company that designs, manufactures and markets products used in orthodontics and restorative dentistry. The company is best known for Invisalign clear aligners, which are custom-made orthodontic devices intended to gradually move patients’ teeth under the supervision of dental professionals.

Align also develops the iTero family of intraoral scanners and related digital imaging systems, which help dental professionals create digital impressions and treatment plans.