17,879 Align Technology, Inc. $ALGN Shares Bought by Brighton Jones LLC

Key Points

• Brighton Jones increased its Align Technology holdings by 298.5% in the third quarter, buying 17,879 shares to bring its position to 23,868 shares, valued at about $3.22 million.
• Align reported quarterly EPS of $2.80, slightly above estimates, and revenue of $1.01 billion, also ahead of forecasts; revenue rose 1.9% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $193.08. Shares opened at $166 in the article’s reporting.

Brighton Jones LLC lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 298.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,868 shares of the medical equipment provider's stock after purchasing an additional 17,879 shares during the period. Brighton Jones LLC's holdings in Align Technology were worth $3,222,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Align Technology in the 2nd quarter valued at approximately $745,370,000. Assenagon Asset Management S.A. lifted its holdings in shares of Align Technology by 638.7% during the third quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider's stock worth $629,469,000 after buying an additional 4,031,284 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Align Technology by 3,162.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,097,745 shares of the medical equipment provider's stock worth $278,342,000 after buying an additional 2,033,451 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Align Technology by 69,628.9% in the third quarter. Vontobel Holding Ltd. now owns 1,385,513 shares of the medical equipment provider's stock worth $183,335,000 after acquiring an additional 1,383,526 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Align Technology by 4.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,054,633 shares of the medical equipment provider's stock worth $180,796,000 after acquiring an additional 49,220 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Stock Performance

Shares of ALGN stock opened at $166.00 on Monday. Align Technology, Inc. has a 12 month low of $130.23 and a 12 month high of $200.43. The company has a market capitalization of $11.89 billion, a P/E ratio of 24.16, a P/E/G ratio of 1.80 and a beta of 1.74. The stock has a 50 day moving average of $150.38 and a two-hundred day moving average of $168.50.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.03. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1 billion. Align Technology had a return on equity of 15.96% and a net margin of 11.83%. Align Technology's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.61 earnings per share. Sell-side analysts predict that Align Technology, Inc. will post 9.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALGN has been the topic of a number of research reports. Mizuho dropped their target price on shares of Align Technology from $220.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, October 22nd. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a report on Thursday, October 29th. Weiss Ratings upgraded shares of Align Technology from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 9th. UBS Group restated a "neutral" rating and issued a $189.00 price target on shares of Align Technology in a research report on Thursday, July 23rd. Finally, Evercore downgraded shares of Align Technology from an "outperform" rating to an "in-line" rating and set a $155.00 price objective on the stock. in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Align Technology has a consensus rating of "Moderate Buy" and a consensus target price of $193.08.

Align Technology Profile

Align Technology, Inc develops, manufactures and markets digital orthodontic and restorative dentistry products. Its best-known offering is the Invisalign system, which uses a series of custom-made clear aligners to straighten teeth. The company also sells Vivera retainers and iTero intraoral scanners, which support digital dental imaging and treatment planning.

Founded in 1997, Align helped popularize clear-aligner orthodontic treatment as an alternative to traditional braces. Its digital dentistry portfolio also includes exocad software, used by dental professionals and laboratories to design dental restorations.

Headquartered in Tempe, Arizona, Align serves dental professionals and patients in markets around the world.

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