Align Technology, Inc. $ALGN Shares Purchased by Howland Capital Management LLC

Howland Capital Management LLC boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 28,804.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 403,801 shares of the medical equipment provider’s stock after purchasing an additional 402,404 shares during the period. Align Technology comprises 1.9% of Howland Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Howland Capital Management LLC owned about 0.56% of Align Technology worth $53,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc acquired a new stake in Align Technology in the 2nd quarter valued at $1,872,000. Maridea Wealth Management LLC acquired a new stake in shares of Align Technology in the second quarter valued at approximately $1,659,000. Pallas Capital Advisors LLC bought a new stake in Align Technology during the 2nd quarter worth about $1,128,000. NewEdge Wealth LLC acquired a new position in shares of Align Technology in the 2nd quarter valued at $1,658,000. Finally, Nykredit A S bought a new position in Align Technology during the 2nd quarter worth approximately $74,077,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 2.7%

Align Technology stock opened at $155.51 on Friday. Align Technology, Inc. has a 12 month low of $130.23 and a 12 month high of $200.43. The stock’s 50 day moving average is $152.16 and its 200-day moving average is $166.63. The company has a market capitalization of $11.14 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.62 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.86% and a net margin of 9.99%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 earnings per share. As a group, equities research analysts predict that Align Technology, Inc. will post 9.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALGN has been the subject of a number of research reports. Piper Sandler lowered their target price on Align Technology from $235.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday. Evercore lowered Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 target price on the stock. in a report on Monday, October 5th. Robert W. Baird reaffirmed a “neutral” rating and set a $162.00 price target (down from $218.00) on shares of Align Technology in a report on Thursday, October 15th. Raymond James Financial reiterated a “buy” rating on shares of Align Technology in a report on Monday, October 5th. Finally, UBS Group reiterated a “neutral” rating and issued a $189.00 price objective on shares of Align Technology in a report on Thursday, July 23rd. One 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 given a Sell rating to the stock. According to data from MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and a consensus price target of $190.93.

About Align Technology

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.