Van Eck Associates Inc. increased its holdings in Align Technology Inc. (NASDAQ:ALGN – Free Report ) by 20.0% during the first quarter, according to the latest disclosures filed with the U.S. Securities and Exchange Commission (SEC). The institutional investor now owns 8,241 shares of the medical equipment provider’s stock, purchasing an additional 1,372 shares during the quarter. Van Eck Associates Inc.’s holdings in Align Technology are worth $2,702,000 as of the latest SEC filing.
Several other large investors also added to or reduced their stake in ALGN. Schonfeld Strategic Advisors LLC increased its holdings in Align Technology by 232.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 2,800 shares of the medical equipment provider’s stock valued at $855,000 after purchasing an additional 1,957 shares in the last quarter. Lido Advisors LLC increased its holdings in Align Technology by 19.7% in the third quarter. Lido Advisors LLC now owns 1,662 shares of the medical equipment provider’s stock valued at $507,000 after purchasing an additional 273 shares in the last quarter. Scotia Capital Inc. purchased a new position in Align Technology for approximately $1,285,000 in the third quarter. Royal London Asset Management Ltd increased its holdings in Align Technology by 5.5% in the third quarter. Royal London Asset Management Co. now owns 32,460 shares of the medical equipment provider’s stock valued at $9.91 million after purchasing an additional 1,699 shares in the last quarter. Finally, Royal Bank increased its holdings in Align Technology by 4.4% in the third quarter. Royal Bank now owns 293,082 shares of the medical equipment provider’s stock valued at $89.481 million after purchasing an additional 12,405 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.
Align Technology shares rose 0.1%
ALGN shares opened trading at $243.60 on Friday. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The stock has a market cap of $18.34 billion, a price-to-earnings ratio of 40.13, a price-to-earnings growth ratio of 4.51 and a beta of 1.66. The company’s 50-day simple moving average is $259.94 and its 200-day simple moving average is $283.25.
Align Technology (NASDAQ:ALGN – Get free report ) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. Align Technology had net margins of 11.80% and return on equity of 14.15%. The company had revenue of $997.43 million for the quarter, compared to analysts’ estimates of $971.97 million. Equity research analysts expect Align Technology, Inc. to post EPS of 7.86 for the year.
Wall Street analysts predict growth
Several stock analysts have recently commented on ALGN stock. Robert W. Baird increased their price target on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Stifel Nicolaus increased their price target on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley increased their price target on shares of Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, UBS Group boosted their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15. One investment analyst has rated the stock with a sell rating, three have given a hold rating, and seven have given a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of a “moderate buy” with a consensus target price of $346.50.
Get the latest Align Technology stock analysis
Align Technology Company Profile
(Free report)
Align Technology, Inc designs, manufactures and distributes Invisalign clear aligners, iTero intraoral scanners and services to orthodontists and general practice dentists in the United States, Switzerland and worldwide. The company’s clear aligner division offers comprehensive products, including the Invisalign Comprehensive Package to address the orthodontic needs of younger patients, including mandibular advancement, compliance indicators and tooth eruption correction, as well as the Invisalign First Phase I and Invisalign First Comprehensive Phase 2 packages for younger patients, typically between the ages of 6 and 10, who have a mix of primary and permanent teeth.
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