Geode Capital Management LLC Purchases 21,605 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Geode Capital Management LLC boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,750,805 shares of the medical equipment provider's stock after buying an additional 21,605 shares during the quarter. Geode Capital Management LLC owned approximately 2.35% of Align Technology worth $443,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Achmea Investment Management B.V. boosted its holdings in shares of Align Technology by 3.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider's stock worth $2,495,000 after buying an additional 339 shares during the period. Baker Avenue Asset Management LP acquired a new stake in Align Technology during the third quarter worth approximately $4,250,000. Swedbank AB increased its stake in shares of Align Technology by 30.1% during the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider's stock worth $98,960,000 after purchasing an additional 90,000 shares during the period. KBC Group NV lifted its holdings in Align Technology by 11.8% during the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider's stock worth $13,595,000 after purchasing an additional 5,663 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Align Technology by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider's stock valued at $26,900,000 after purchasing an additional 2,717 shares during the period. Institutional investors own 88.43% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALGN. StockNews.com raised Align Technology from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. Evercore ISI cut their price objective on shares of Align Technology from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Morgan Stanley decreased their target price on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Robert W. Baird dropped their price target on shares of Align Technology from $325.00 to $276.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, Piper Sandler reduced their price target on Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $271.20.

Align Technology Stock Down 0.1 %

Shares of ALGN stock traded down $0.33 during trading hours on Friday, reaching $235.39. The company's stock had a trading volume of 519,180 shares, compared to its average volume of 776,645. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The firm's 50 day simple moving average is $224.11 and its 200-day simple moving average is $234.30. The company has a market capitalization of $17.57 billion, a price-to-earnings ratio of 40.17, a PEG ratio of 6.20 and a beta of 1.66.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. Align Technology's revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $1.62 earnings per share. Sell-side analysts predict that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.