Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC lifted its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 61.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,506 shares of the medical equipment provider's stock after purchasing an additional 4,758 shares during the period. Townsquare Capital LLC's holdings in Align Technology were worth $3,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALGN. Mather Group LLC. grew its position in shares of Align Technology by 52.5% during the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider's stock worth $29,000 after buying an additional 42 shares in the last quarter. Quarry LP lifted its stake in Align Technology by 53.0% in the second quarter. Quarry LP now owns 127 shares of the medical equipment provider's stock worth $31,000 after acquiring an additional 44 shares during the last quarter. Crewe Advisors LLC grew its holdings in Align Technology by 36.8% during the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider's stock worth $41,000 after acquiring an additional 46 shares in the last quarter. Empirical Finance LLC increased its position in shares of Align Technology by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider's stock valued at $632,000 after purchasing an additional 50 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Align Technology by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider's stock valued at $2,143,000 after purchasing an additional 54 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALGN has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Align Technology from $285.00 to $275.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Morgan Stanley dropped their price objective on Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus cut their target price on Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a report on Monday, November 4th. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $276.38.

Align Technology Stock Up 1.4 %

NASDAQ:ALGN traded up $3.11 during trading hours on Friday, reaching $232.77. 312,009 shares of the company's stock were exchanged, compared to its average volume of 786,209. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The firm has a market capitalization of $17.38 billion, a price-to-earnings ratio of 39.72, a P/E/G ratio of 5.95 and a beta of 1.65. The company has a 50-day moving average of $226.43 and a 200 day moving average of $236.31.

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

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.