Bank of America Corp DE bought a new position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 551,912 shares of the medical equipment provider's stock, valued at approximately $93,085,000. Bank of America Corp DE owned 0.77% of Align Technology as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in ALGN. Freestone Grove Partners LP bought a new stake in Align Technology in the 2nd quarter worth $90,000. Caisse de depot et placement du Quebec purchased a new position in Align Technology during the 2nd quarter valued at about $21,622,000. Man Group plc bought a new position in Align Technology during the 2nd quarter valued at approximately $4,476,000. Jupiter Topco LLC bought a new position in Align Technology in the 2nd quarter worth about $5,194,000. Finally, EFG International AG purchased a new stake in shares of Align Technology during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 88.43% of the company's stock.
Align Technology Price Performance
Shares of ALGN opened at $147.61 on Friday. The stock has a market cap of $10.57 billion, a PE ratio of 25.67, a P/E/G ratio of 1.59 and a beta of 1.65. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $200.43. The firm has a 50-day simple moving average of $165.83 and a two-hundred day simple moving average of $171.45.
Align Technology (NASDAQ:ALGN - Get Free Report) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $2.49 EPS. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, sell-side analysts expect that Align Technology, Inc. will post 9.38 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Zacks Research lowered shares of Align Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 16th. Wall Street Zen cut shares of Align Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings raised Align Technology from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, September 4th. BMO Capital Markets started coverage on Align Technology in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $209.00 price objective for the company. Finally, Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Align Technology currently has an average rating of "Moderate Buy" and a consensus price target of $206.36.
View Our Latest Stock Report on ALGN
Align Technology Company Profile
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Free Report)
Align Technology, Inc NASDAQ: ALGN is a global medical device company that designs, manufactures and markets products used in orthodontics and digital dentistry. Its best-known product is the Invisalign system, a series of clear, removable aligners intended to gradually straighten teeth and address certain orthodontic conditions under the supervision of dental professionals.
The company also develops digital dentistry technologies, including iTero intraoral scanners and related software, which create digital impressions and support orthodontic, restorative and implant treatment planning.
See Also
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