Align Technology, Inc. $ALGN Holdings Decreased by Ninety One North America Inc.

Ninety One North America Inc. lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 6.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,719 shares of the medical equipment provider’s stock after selling 10,344 shares during the period. Ninety One North America Inc.’s holdings in Align Technology were worth $22,634,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. K.J. Harrison & Partners Inc bought a new position in shares of Align Technology in the 2nd quarter worth about $1,872,000. Maridea Wealth Management LLC bought a new stake in shares of Align Technology during the 2nd quarter valued at about $1,659,000. Pallas Capital Advisors LLC bought a new stake in shares of Align Technology during the 2nd quarter valued at about $1,128,000. Nykredit A S bought a new stake in shares of Align Technology during the 2nd quarter valued at about $74,077,000. Finally, Deutsche Bank AG acquired a new stake in Align Technology during the second quarter worth approximately $99,779,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of NASDAQ ALGN traded up $3.79 during trading on Thursday, hitting $148.22. 360,316 shares of the company traded hands, compared to its average volume of 1,059,615. The business’s fifty day moving average is $154.93 and its 200 day moving average is $167.44. Align Technology, Inc. has a fifty-two week low of $128.65 and a fifty-two week high of $200.43. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 1.53 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS 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 business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company posted $2.49 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, analysts predict that Align Technology, Inc. will post 9.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALGN shares. Evercore lowered Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 price target on the stock. in a research note on Monday, October 5th. Robert W. Baird restated a “neutral” rating and set a $162.00 price target (down from $218.00) on shares of Align Technology in a report on Thursday. Stifel Nicolaus reduced their price objective on shares of Align Technology from $210.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 9th. 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, Raymond James Financial reiterated a “buy” rating on shares of Align Technology in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and a consensus target price of $194.14.

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.