Align Technology, Inc. $ALGN Shares Acquired by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 172,320.8% in the third quarter, Holdings Channel reports. The firm owned 82,762 shares of the medical equipment provider’s stock after buying an additional 82,714 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Align Technology were worth $10,951,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. raised its position in Align Technology by 77.5% during the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 69 shares during the last quarter. Hollencrest Capital Management purchased a new position in Align Technology during the first quarter worth approximately $34,000. Osterweis Capital Management Inc. acquired a new position in Align Technology in the second quarter valued at approximately $36,000. Global Retirement Partners LLC purchased a new position in shares of Align Technology during the second quarter worth $38,000. Finally, Bessemer Group Inc. increased its stake in shares of Align Technology by 37.2% during the first quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 0.6%

NASDAQ:ALGN opened at $154.51 on Friday. The firm has a 50 day moving average of $151.62 and a 200-day moving average of $166.55. The stock has a market capitalization of $11.07 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 1.66 and a beta of 1.67. Align Technology, Inc. has a 1 year low of $130.23 and a 1 year high of $200.43.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 EPS. As a group, analysts forecast that Align Technology, Inc. will post 9.34 EPS for the current fiscal year.

Analysts Set New Price Targets

ALGN has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Align Technology from $235.00 to $205.00 and set an “overweight” rating on the stock in a research note on Wednesday. Stifel Nicolaus lowered their price objective on Align Technology from $210.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 9th. Wall Street Zen cut Align Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird restated a “neutral” rating and set a $162.00 target price (down from $218.00) on shares of Align Technology in a report on Thursday, October 15th. Finally, UBS Group restated a “neutral” rating and issued a $189.00 price target on shares of Align Technology in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.93.

Align Technology Company Profile

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align’s products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.