Align Technology, Inc. $ALGN Stock: Farmers & Merchants Investments Inc. Raises Stake

Key Points

• Farmers & Merchants Investments increased its Align Technology stake by 172,320.8% in the third quarter, acquiring 82,714 additional shares for a total holding valued at approximately $11 million. Institutional investors collectively own 88.43% of the company.
• Align Technology shares opened at $154.51, with a market capitalization of $11.07 billion and a 12-month trading range of $130.23 to $200.43. The company recently reported quarterly earnings of $2.64 per share and revenue of $1.06 billion, both slightly ahead of estimates.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $190.93, although several analysts have reduced their targets or maintained neutral ratings.

Farmers & Merchants Investments Inc. lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 172,320.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,762 shares of the medical equipment provider's stock after purchasing an additional 82,714 shares during the quarter. Farmers & Merchants Investments Inc. owned 0.12% of Align Technology worth $10,951,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in Align Technology by 4,594.7% in the 3rd quarter. Sterling Capital Management LLC now owns 202,764 shares of the medical equipment provider's stock worth $26,883,000 after purchasing an additional 198,445 shares during the period. Yousif Capital Management LLC boosted its stake in Align Technology by 1,356.9% during the 3rd quarter. Yousif Capital Management LLC now owns 132,445 shares of the medical equipment provider's stock valued at $17,648,000 after purchasing an additional 123,354 shares during the period. Compass Wealth Management LLC acquired a new position in Align Technology in the 3rd quarter valued at approximately $7,377,000. Howland Capital Management LLC raised its position in Align Technology by 28,804.9% in the third quarter. Howland Capital Management LLC now owns 403,801 shares of the medical equipment provider's stock worth $53,445,000 after purchasing an additional 402,404 shares in the last quarter. Finally, Isthmus Partners LLC boosted its stake in shares of Align Technology by 3.7% in the 3rd quarter. Isthmus Partners LLC now owns 2,601 shares of the medical equipment provider's stock valued at $378,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 88.43% of the company's stock.

Align Technology Stock Down 0.6%

Shares of NASDAQ:ALGN opened at $154.51 on Friday. The business's 50 day moving average is $151.62 and its 200 day moving average is $166.55. Align Technology, Inc. has a 12-month low of $130.23 and a 12-month high of $200.43. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.66 and a beta of 1.67.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The company's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $2.49 earnings per share. As a group, equities research analysts expect that Align Technology, Inc. will post 9.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ALGN shares. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Align Technology from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 9th. UBS Group reaffirmed a "neutral" rating and set a $189.00 price target on shares of Align Technology in a research report on Thursday, July 23rd. Robert W. Baird reiterated a "neutral" rating and set a $162.00 target price (down from $218.00) on shares of Align Technology in a research note on Thursday, October 15th. Finally, Leerink Partners cut their target price on Align Technology from $235.00 to $215.00 and set an "outperform" rating for the company in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Align Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.93.

Align Technology Profile

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align's products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.

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