Caisse de depot et placement du Quebec purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 128,197 shares of the medical equipment provider's stock, valued at approximately $21,622,000. Caisse de depot et placement du Quebec owned approximately 0.18% of Align Technology at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Align Technology by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider's stock valued at $1,624,000 after buying an additional 469 shares in the last quarter. Focus Partners Wealth raised its holdings in Align Technology by 5.2% during the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider's stock valued at $486,000 after acquiring an additional 151 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Align Technology during the second quarter worth $204,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Align Technology by 55.7% in the second quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider's stock worth $101,000 after acquiring an additional 190 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Align Technology by 201.7% in the second quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider's stock worth $16,712,000 after acquiring an additional 59,010 shares during the period. 88.43% of the stock is owned by institutional investors.
Align Technology Stock Performance
Align Technology stock opened at $157.58 on Friday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $200.43. The stock has a market cap of $11.29 billion, a P/E ratio of 27.41, a PEG ratio of 1.69 and a beta of 1.65. The firm's fifty day moving average price is $173.01 and its 200-day moving average price is $175.15.
Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $2.49 earnings per share. The firm's quarterly revenue was up 4.3% on a year-over-year basis. Sell-side analysts predict that Align Technology, Inc. will post 9.38 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on ALGN. Zacks Research cut Align Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 16th. BMO Capital Markets initiated coverage on Align Technology in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $209.00 target price for the company. Wall Street Zen lowered Align Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. UBS Group reiterated a "neutral" rating and set a $189.00 price target on shares of Align Technology in a research report on Thursday, July 23rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, Align Technology currently has a consensus rating of "Moderate Buy" and an average price target of $206.36.
Get Our Latest Stock Report on ALGN
Align Technology Profile
(
Free Report)
Align Technology, Inc NASDAQ: ALGN pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.
The company's signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.
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