Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 448,028 shares of the medical equipment provider's stock after buying an additional 10,887 shares during the period. Charles Schwab Investment Management Inc. owned 0.60% of Align Technology worth $113,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALGN. Cullen Frost Bankers Inc. raised its holdings in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 94 shares during the period. Innealta Capital LLC acquired a new position in shares of Align Technology during the 2nd quarter valued at $26,000. Rothschild Investment LLC purchased a new stake in Align Technology during the 2nd quarter worth $26,000. Versant Capital Management Inc increased its holdings in Align Technology by 547.1% in the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider's stock valued at $27,000 after purchasing an additional 93 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Align Technology in the first quarter valued at about $29,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALGN has been the subject of several analyst reports. StockNews.com raised Align Technology from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th. Robert W. Baird reduced their target price on shares of Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus lowered their price target on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Evercore ISI cut their price objective on shares of Align Technology from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Finally, Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Align Technology has an average rating of "Hold" and a consensus price target of $276.38.

Align Technology Stock Performance

Shares of Align Technology stock traded down $12.59 during trading hours on Tuesday, reaching $227.93. The company's stock had a trading volume of 1,608,280 shares, compared to its average volume of 789,382. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The company's 50 day simple moving average is $227.85 and its 200 day simple moving average is $236.98. The stock has a market cap of $17.01 billion, a P/E ratio of 38.90, a price-to-earnings-growth ratio of 5.85 and a beta of 1.65.

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

About Align Technology

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.