StoneX Group Inc. Purchases 10,213 Shares of Align Technology, Inc. $ALGN

StoneX Group Inc. acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,213 shares of the medical equipment provider’s stock, valued at approximately $1,386,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGN. BlackRock Inc. bought a new position in Align Technology during the 2nd quarter worth $745,370,000. Assenagon Asset Management S.A. boosted its position in shares of Align Technology by 638.7% in the third quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock valued at $629,469,000 after acquiring an additional 4,031,284 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Align Technology by 3,162.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,097,745 shares of the medical equipment provider’s stock valued at $278,342,000 after acquiring an additional 2,033,451 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Align Technology by 69,628.9% in the third quarter. Vontobel Holding Ltd. now owns 1,385,513 shares of the medical equipment provider’s stock valued at $183,335,000 after acquiring an additional 1,383,526 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Align Technology in the second quarter valued at about $99,779,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group reaffirmed a “neutral” rating and set a $189.00 price target on shares of Align Technology in a research report on Thursday, July 23rd. 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. Stifel Nicolaus cut their price objective on shares of Align Technology from $210.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 9th. Raymond James Financial restated a “buy” rating on shares of Align Technology in a research report on Monday, October 5th. Finally, Morgan Stanley lowered their target price on shares of Align Technology from $188.00 to $175.00 and set an “equal weight” rating on the stock in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average price target of $193.08.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $174.26 on Tuesday. The business has a fifty day moving average price of $150.71 and a two-hundred day moving average price of $168.52. The stock has a market capitalization of $12.48 billion, a PE ratio of 17.67, a P/E/G ratio of 1.79 and a beta of 1.74. Align Technology, Inc. has a fifty-two week low of $130.23 and a fifty-two week high of $200.43.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 28th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.03. Align Technology had a return on equity of 15.96% and a net margin of 11.83%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm posted $2.61 EPS. Align Technology’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that Align Technology, Inc. will post 9.21 EPS for the current year.

Align Technology Profile

Align Technology, Inc develops, manufactures and markets digital orthodontic and restorative dentistry products. Its best-known offering is the Invisalign system, which uses a series of custom-made clear aligners to straighten teeth. The company also sells Vivera retainers and iTero intraoral scanners, which support digital dental imaging and treatment planning.

Founded in 1997, Align helped popularize clear-aligner orthodontic treatment as an alternative to traditional braces. Its digital dentistry portfolio also includes exocad software, used by dental professionals and laboratories to design dental restorations.

Headquartered in Tempe, Arizona, Align serves dental professionals and patients in markets around the world.