Jefferies Financial Group Inc. Purchases Shares of 45,346 Align Technology, Inc. $ALGN

Jefferies Financial Group Inc. acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 45,346 shares of the medical equipment provider’s stock, valued at approximately $7,648,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Align Technology in the 2nd quarter valued at $745,370,000. Capital International Investors boosted its position in Align Technology by 52.2% during the 4th quarter. Capital International Investors now owns 4,643,221 shares of the medical equipment provider’s stock worth $725,039,000 after purchasing an additional 1,592,848 shares during the period. Ruane Cunniff & Goldfarb L.P. purchased a new stake in Align Technology during the 4th quarter worth $190,899,000. Norges Bank acquired a new stake in Align Technology in the 4th quarter valued at $155,556,000. Finally, Assenagon Asset Management S.A. increased its holdings in Align Technology by 413.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 989,388 shares of the medical equipment provider’s stock valued at $169,611,000 after purchasing an additional 796,529 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $158.84 on Friday. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $200.43. The stock’s 50-day simple moving average is $173.50 and its 200-day simple moving average is $175.27. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.69 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share 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 during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm earned $2.49 EPS. Align Technology’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts predict that Align Technology, Inc. will post 9.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ALGN shares. UBS Group restated a “neutral” rating and set a $189.00 price objective on shares of Align Technology in a research note on Thursday, July 23rd. Wall Street Zen lowered Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. BMO Capital Markets initiated coverage on Align Technology in a report on Wednesday, July 8th. They set an “outperform” rating and a $209.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, July 30th. Finally, Evercore upped their price target on Align Technology from $200.00 to $220.00 in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and a consensus price target 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.