Align Technology, Inc. (NASDAQ:ALGN) Position Lifted by Disciplined Growth Investors Inc. MN

Disciplined Growth Investors Inc. MN boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 6.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 753,026 shares of the medical equipment provider's stock after buying an additional 45,484 shares during the period. Align Technology accounts for 3.6% of Disciplined Growth Investors Inc. MN's investment portfolio, making the stock its 7th largest position. Disciplined Growth Investors Inc. MN owned 1.01% of Align Technology worth $191,510,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cullen Frost Bankers Inc. raised its holdings in Align Technology by 854.5% in the 2nd 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 Align Technology during the second quarter worth $26,000. Rothschild Investment LLC purchased a new position in shares of Align Technology during the second quarter worth $26,000. True Wealth Design LLC grew its stake in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 107 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Align Technology in the 2nd quarter valued at $31,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Up 0.2 %

Shares of Align Technology stock traded up $0.56 during trading on Tuesday, hitting $238.13. 351,065 shares of the company were exchanged, compared to its average volume of 779,497. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The firm has a 50 day moving average price of $224.39 and a 200 day moving average price of $234.67. The stock has a market capitalization of $17.78 billion, a price-to-earnings ratio of 40.54, a P/E/G ratio of 6.02 and a beta of 1.66.

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

Analyst Ratings Changes

Several research firms have weighed in on ALGN. Piper Sandler dropped their target price on Align Technology from $285.00 to $275.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Mizuho began coverage on Align Technology in a research note on Wednesday, December 4th. They set an "outperform" rating and a $295.00 target price for the company. StockNews.com raised Align Technology from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th. Evercore ISI lowered their target price on shares of Align Technology from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $278.44.

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.