Align Technology, Inc. $ALGN Position Lifted by Brighton Jones LLC

Brighton Jones LLC raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 298.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,868 shares of the medical equipment provider’s stock after purchasing an additional 17,879 shares during the quarter. Brighton Jones LLC’s holdings in Align Technology were worth $3,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ALGN. BlackRock Inc. acquired a new position in shares of Align Technology in the 2nd quarter worth approximately $745,370,000. Assenagon Asset Management S.A. lifted its position in shares of Align Technology by 638.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock worth $629,469,000 after buying an additional 4,031,284 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Align Technology by 3,162.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,097,745 shares of the medical equipment provider’s stock worth $278,342,000 after buying an additional 2,033,451 shares during the period. Vontobel Holding Ltd. boosted its stake in Align Technology by 69,628.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,385,513 shares of the medical equipment provider’s stock valued at $183,335,000 after buying an additional 1,383,526 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Align Technology by 4.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,054,633 shares of the medical equipment provider’s stock valued at $180,796,000 after buying an additional 49,220 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

NASDAQ:ALGN opened at $166.00 on Monday. Align Technology, Inc. has a 1 year low of $130.23 and a 1 year high of $200.43. The firm has a 50 day moving average of $150.38 and a 200-day moving average of $168.50. The stock has a market capitalization of $11.89 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 1.80 and a beta of 1.74.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 28th. The medical equipment provider reported $2.80 EPS for the quarter, topping the consensus estimate of $2.77 by $0.03. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Align Technology had a return on equity of 15.96% and a net margin of 11.83%. Align Technology’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.61 EPS. As a group, analysts forecast that Align Technology, Inc. will post 9.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group reiterated a “neutral” rating and issued a $189.00 price target on shares of Align Technology in a research report on Thursday, July 23rd. Raymond James Financial reissued a “buy” rating on shares of Align Technology in a report on Monday, October 5th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday, October 29th. Weiss Ratings upgraded shares of Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. Finally, Stifel Nicolaus lowered their target price on shares of Align Technology from $210.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.08.

Align Technology Company Profile

Align Technology, Inc develops, manufactures and markets digital orthodontic and restorative dentistry products. Its best-known offering is the Invisalign system, which uses a series of custom-made clear aligners to straighten teeth. The company also sells Vivera retainers and iTero intraoral scanners, which support digital dental imaging and treatment planning.

Founded in 1997, Align helped popularize clear-aligner orthodontic treatment as an alternative to traditional braces. Its digital dentistry portfolio also includes exocad software, used by dental professionals and laboratories to design dental restorations.

Headquartered in Tempe, Arizona, Align serves dental professionals and patients in markets around the world.