Align Technology, Inc. $ALGN Stake Lifted by Mather Group LLC.

Key Points

• Mather Group LLC significantly increased its Align Technology stake by 3,686.2% in the third quarter, ending with 25,216 shares valued at approximately $3.34 million.
• Align Technology reported quarterly earnings of $2.64 per share and revenue of $1.06 billion, modestly exceeding analyst expectations; revenue rose 4.3% year over year.
• Analysts maintain a consensus “Moderate Buy” rating with a $194.14 price target, while shares recently traded at $149.34, below both the 50-day and 200-day moving averages.

Mather Group LLC. increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 3,686.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,216 shares of the medical equipment provider's stock after purchasing an additional 24,550 shares during the quarter. Mather Group LLC.'s holdings in Align Technology were worth $3,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Blue Trust Inc. raised its position in Align Technology by 77.5% in the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider's stock worth $27,000 after buying an additional 69 shares during the last quarter. Tobam bought a new position in Align Technology during the 4th quarter valued at about $30,000. Hollencrest Capital Management purchased a new stake in shares of Align Technology during the 1st quarter valued at about $34,000. Osterweis Capital Management Inc. purchased a new stake in shares of Align Technology during the 2nd quarter valued at about $36,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Align Technology during the 2nd quarter valued at about $38,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Performance

Align Technology stock opened at $149.34 on Friday. The stock has a market cap of $10.70 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.67. Align Technology, Inc. has a one year low of $128.65 and a one year high of $200.43. The stock has a fifty day moving average of $154.54 and a 200 day moving average of $167.32.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Align Technology had a return on equity of 15.86% and a net margin of 9.99%. Align Technology's revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.49 earnings per share. As a group, sell-side analysts predict that Align Technology, Inc. will post 9.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ALGN shares. UBS Group reiterated a "neutral" rating and issued a $189.00 price target on shares of Align Technology in a research note on Thursday, July 23rd. BMO Capital Markets started coverage on shares of Align Technology in a research report on Wednesday, July 8th. They set an "outperform" rating and a $209.00 price objective on the stock. Raymond James Financial restated a "buy" rating on shares of Align Technology in a research report on Monday, October 5th. Zacks Research cut shares of Align Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 16th. Finally, Weiss Ratings raised shares of Align Technology from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.14.

Align Technology Profile

Align Technology, Inc is a medical device and digital technology company that designs, manufactures and markets products used in orthodontics and restorative dentistry. The company is best known for Invisalign clear aligners, which are custom-made orthodontic devices intended to gradually move patients' teeth under the supervision of dental professionals.

Align also develops the iTero family of intraoral scanners and related digital imaging systems, which help dental professionals create digital impressions and treatment plans.

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