TD Waterhouse Canada Inc. Purchases 548,959 Shares of Align Technology, Inc. $ALGN

TD Waterhouse Canada Inc. boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 42,423.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 550,253 shares of the medical equipment provider’s stock after buying an additional 548,959 shares during the period. TD Waterhouse Canada Inc.’s holdings in Align Technology were worth $73,546,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in shares of Align Technology by 638.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock worth $629,469,000 after purchasing an additional 4,031,284 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Align Technology during the second quarter worth $745,370,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Align Technology by 4.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,054,633 shares of the medical equipment provider’s stock worth $180,796,000 after purchasing an additional 49,220 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Align Technology by 21.3% during the first quarter. Dimensional Fund Advisors LP now owns 972,519 shares of the medical equipment provider’s stock worth $166,696,000 after purchasing an additional 170,523 shares during the period. Finally, Senvest Management LLC increased its holdings in Align Technology by 8.6% in the first quarter. Senvest Management LLC now owns 754,797 shares of the medical equipment provider’s stock valued at $129,395,000 after purchasing an additional 59,855 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

ALGN has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on Align Technology in a report on Wednesday, July 8th. They set an “outperform” rating and a $209.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, July 30th. Evercore cut Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 price target for the company. in a research note on Monday, October 5th. Weiss Ratings upgraded shares of Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Finally, Raymond James Financial reissued a “buy” rating on shares of Align Technology in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $194.14.

Align Technology Stock Performance

NASDAQ ALGN traded down $2.03 during trading on Friday, hitting $147.31. The stock had a trading volume of 952,959 shares, compared to its average volume of 990,319. Align Technology, Inc. has a 12 month low of $128.67 and a 12 month high of $200.43. The company’s 50-day moving average price is $154.01 and its two-hundred day moving average price is $167.18. The company has a market capitalization of $10.55 billion, a PE ratio of 25.62, a P/E/G ratio of 1.59 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $2.49 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities analysts anticipate that Align Technology, Inc. will post 9.36 earnings per share for the current fiscal year.

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.