Thrivent Financial for Lutherans Raises Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Thrivent Financial for Lutherans raised its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 342,377 shares of the medical equipment provider's stock after buying an additional 28,924 shares during the quarter. Thrivent Financial for Lutherans owned 0.46% of Align Technology worth $87,074,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. bought a new position in Align Technology in the 1st quarter valued at $216,000. Orion Portfolio Solutions LLC increased its position in shares of Align Technology by 13.9% during the 1st quarter. Orion Portfolio Solutions LLC now owns 7,318 shares of the medical equipment provider's stock valued at $2,400,000 after purchasing an additional 892 shares during the last quarter. Vanguard Group Inc. grew its position in Align Technology by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider's stock worth $2,746,378,000 after acquiring an additional 25,362 shares during the last quarter. Edgestream Partners L.P. grew its position in Align Technology by 35.7% during the 1st quarter. Edgestream Partners L.P. now owns 7,445 shares of the medical equipment provider's stock worth $2,441,000 after acquiring an additional 1,960 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Align Technology by 116.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,402 shares of the medical equipment provider's stock worth $1,772,000 after acquiring an additional 2,910 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of NASDAQ:ALGN traded up $6.21 during trading on Monday, hitting $229.90. The company had a trading volume of 940,290 shares, compared to its average volume of 786,127. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 38.17, a price-to-earnings-growth ratio of 5.79 and a beta of 1.65. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The company has a fifty day simple moving average of $228.85 and a two-hundred day simple moving average of $239.62.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. The business had revenue of $977.87 million during 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%. The company's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus lowered their target price on Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Evercore ISI dropped their target price on Align Technology from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Robert W. Baird dropped their target price on Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Piper Sandler lowered their price target on Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a 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 six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Align Technology has a consensus rating of "Hold" and a consensus target price of $276.38.

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.