Massachusetts Financial Services Co. MA Acquires 89,267 Shares of Align Technology, Inc. $ALGN

Massachusetts Financial Services Co. MA boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 54.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 254,410 shares of the medical equipment provider’s stock after buying an additional 89,267 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.35% of Align Technology worth $31,857,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. bought a new position in shares of Align Technology during the 3rd quarter worth approximately $26,000. Rothschild Investment LLC lifted its holdings in Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares during the last quarter. True Wealth Design LLC lifted its holdings in Align Technology by 7,650.0% during the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 153 shares during the last quarter. Quent Capital LLC bought a new position in Align Technology during the third quarter worth $30,000. Finally, TD Private Client Wealth LLC increased its holdings in shares of 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. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Down 0.6%

Shares of NASDAQ:ALGN opened at $168.92 on Friday. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $235.55. The company’s 50 day moving average price is $157.33 and its two-hundred day moving average price is $150.92. The firm has a market cap of $12.12 billion, a PE ratio of 32.74, a PEG ratio of 1.91 and a beta of 1.83.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALGN. Wells Fargo & Company cut their target price on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Morgan Stanley raised their price objective on shares of Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Stifel Nicolaus set a $200.00 price objective on Align Technology in a report on Thursday, October 30th. Zacks Research upgraded Align Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Finally, Mizuho lifted their price target on Align Technology from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Hold” and a consensus price target of $176.82.

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.