D.A. Davidson & CO. Boosts Position in Align Technology, Inc. (NASDAQ:ALGN)

D.A. Davidson & CO. grew its position in Align Technology, Inc. (NASDAQ:ALGN) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,336 shares of the medical equipment provider’s stock after buying an additional 725 shares during the quarter. D.A. Davidson & CO.’s holdings in Align Technology were worth $1,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC increased its position in Align Technology by 122.9% during the first quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock worth $1,445,000 after buying an additional 2,430 shares in the last quarter. LRI Investments LLC acquired a new position in Align Technology in the 1st quarter valued at about $29,000. Cetera Investment Advisers lifted its holdings in Align Technology by 914.2% in the 1st quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock valued at $4,140,000 after purchasing an additional 11,382 shares in the last quarter. Cetera Advisors LLC purchased a new position in Align Technology in the 1st quarter valued at about $337,000. Finally, GAMMA Investing LLC grew its holdings in shares of Align Technology by 11.2% during the second quarter. GAMMA Investing LLC now owns 785 shares of the medical equipment provider’s stock worth $190,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Evercore ISI decreased their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Piper Sandler decreased their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus dropped their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Robert W. Baird decreased their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Hold” and a consensus target price of $276.38.

Align Technology Stock Up 1.4 %

ALGN opened at $232.77 on Friday. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The company has a market cap of $17.38 billion, a P/E ratio of 39.72, a P/E/G ratio of 5.95 and a beta of 1.65. The company has a 50 day moving average of $226.43 and a two-hundred day moving average of $236.31.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the business earned $1.62 earnings per share. Research analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current year.

About Align Technology

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.