Y Intercept Hong Kong Ltd Buys 16,260 Shares of Align Technology, Inc. $ALGN

Y Intercept Hong Kong Ltd increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 80.2% in the third quarter, Holdings Channel.com reports. The firm owned 36,541 shares of the medical equipment provider’s stock after buying an additional 16,260 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Align Technology were worth $4,576,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Align Technology during the third quarter worth $26,000. Rothschild Investment LLC grew its position in Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 87 shares during the last quarter. True Wealth Design LLC increased its holdings in Align Technology by 7,650.0% in the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 153 shares in the last quarter. Quent Capital LLC acquired a new position in Align Technology in the 3rd quarter worth about $30,000. Finally, TD Private Client Wealth LLC raised its position in Align Technology by 135.6% in the third quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ALGN. Evercore ISI lowered their price objective on Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, November 25th. Wells Fargo & Company decreased their price target on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Zacks Research raised shares of Align Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Morgan Stanley lifted their price target on shares of Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Finally, Leerink Partners increased their price objective on Align Technology from $189.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $176.82.

Align Technology Trading Down 0.1%

Shares of ALGN opened at $168.73 on Monday. The firm’s fifty day simple moving average is $157.96 and its two-hundred day simple moving average is $150.08. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $234.39. The stock has a market capitalization of $12.11 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 1.90 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The company had revenue of $995.69 million for the quarter, compared to the consensus estimate of $980.75 million. During the same period in the previous year, the business earned $2.35 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

About Align Technology

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.