Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP raised its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 34.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,091 shares of the medical equipment provider's stock after acquiring an additional 5,130 shares during the quarter. Quantinno Capital Management LP's holdings in Align Technology were worth $5,110,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Cetera Advisors LLC acquired a new position in shares of Align Technology in the first quarter worth about $337,000. Mather Group LLC. raised its position in shares of Align Technology by 52.5% in the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 42 shares in the last quarter. CWM LLC raised its position in shares of Align Technology by 10.9% in the 2nd quarter. CWM LLC now owns 4,218 shares of the medical equipment provider's stock valued at $1,018,000 after purchasing an additional 415 shares in the last quarter. Czech National Bank grew its position in shares of Align Technology by 6.5% during the second quarter. Czech National Bank now owns 13,342 shares of the medical equipment provider's stock worth $3,221,000 after buying an additional 810 shares in the last quarter. Finally, Cooper Financial Group increased its stake in shares of Align Technology by 11.0% in the second quarter. Cooper Financial Group now owns 1,516 shares of the medical equipment provider's stock worth $366,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

Align Technology Price Performance

Shares of ALGN stock traded up $4.54 during trading hours on Friday, reaching $232.35. The stock had a trading volume of 560,642 shares, compared to its average volume of 740,587. The firm has a market capitalization of $17.34 billion, a PE ratio of 39.65, a price-to-earnings-growth ratio of 6.10 and a beta of 1.66. The firm has a 50-day simple moving average of $224.73 and a 200-day simple moving average of $234.96. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on ALGN. Stifel Nicolaus reduced their price objective on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. StockNews.com raised Align Technology from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. Piper Sandler reduced their target price on Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Mizuho started coverage on Align Technology in a research report on Wednesday. They issued an "outperform" rating and a $295.00 target price for the company. Finally, Evercore ISI reduced their price objective on Align Technology from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Align Technology currently has a consensus rating of "Moderate Buy" and an average price target of $278.44.

Align Technology Company 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.