Man Group plc acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,541 shares of the medical equipment provider's stock, valued at approximately $4,476,000.
Several other large investors also recently modified their holdings of ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Align Technology by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider's stock worth $1,624,000 after purchasing an additional 469 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Align Technology by 5.2% in the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider's stock worth $486,000 after buying an additional 151 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Align Technology in the 2nd quarter valued at about $204,000. EverSource Wealth Advisors LLC grew its position in shares of Align Technology by 55.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider's stock valued at $101,000 after buying an additional 190 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Align Technology by 201.7% during the 2nd quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider's stock worth $16,712,000 after purchasing an additional 59,010 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.
Align Technology Price Performance
ALGN stock opened at $157.58 on Monday. The company has a 50-day simple moving average of $173.01 and a 200 day simple moving average of $175.03. The company has a market capitalization of $11.29 billion, a P/E ratio of 27.41, a PEG ratio of 1.67 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $200.43.
Align Technology (NASDAQ:ALGN - Get Free Report) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.62 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.05 billion. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. Align Technology's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $2.49 EPS. Equities analysts anticipate that Align Technology, Inc. will post 9.38 EPS for the current year.
Wall Street Analyst Weigh In
ALGN has been the subject of several recent research reports. Weiss Ratings lowered shares of Align Technology from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd. Zacks Research lowered shares of Align Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 16th. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Thursday, July 30th. UBS Group restated a "neutral" rating and issued a $189.00 price target on shares of Align Technology in a research note on Thursday, July 23rd. Finally, BMO Capital Markets initiated coverage on Align Technology in a report on Wednesday, July 8th. They set an "outperform" rating and a $209.00 price target on the stock. 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $206.36.
View Our Latest Stock Report on Align Technology
Align Technology Profile
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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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