Align Technology, Inc. $ALGN Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 8,410.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 347,391 shares of the medical equipment provider’s stock after acquiring an additional 343,309 shares during the period. Commonwealth Equity Services LLC’s holdings in Align Technology were worth $46,011,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of research analyst reports. Zacks Research lowered Align Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Morgan Stanley dropped their price objective on shares of Align Technology from $188.00 to $175.00 and set an “equal weight” rating for the company in a research note on Thursday, October 29th. UBS Group reiterated a “neutral” rating and set a $189.00 price objective on shares of Align Technology in a report on Thursday, July 23rd. Evercore cut shares of Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 target price on the stock. in a research report on Monday, October 5th. Finally, Piper Sandler decreased their target price on shares of Align Technology from $235.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and an average price target of $193.08.

Align Technology Stock Up 4.2%

ALGN stock opened at $166.00 on Friday. The company has a market cap of $11.89 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.80 and a beta of 1.74. The business has a fifty day simple moving average of $150.38 and a 200-day simple moving average of $168.50. Align Technology, Inc. has a 52 week low of $130.23 and a 52 week high of $200.43.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 28th. The medical equipment provider reported $2.80 earnings per share 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company posted $2.61 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts expect that Align Technology, Inc. will post 9.21 earnings per share for the current fiscal 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.