SeaCrest Wealth Management LLC raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 87.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,858 shares of the medical equipment provider’s stock after buying an additional 1,333 shares during the period. SeaCrest Wealth Management LLC’s holdings in Align Technology were worth $517,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALGN. Buckingham Capital Management Inc. lifted its stake in shares of Align Technology by 9.1% in the 1st quarter. Buckingham Capital Management Inc. now owns 3,883 shares of the medical equipment provider’s stock valued at $1,104,000 after purchasing an additional 323 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Align Technology by 14.4% in the 1st quarter. Belpointe Asset Management LLC now owns 740 shares of the medical equipment provider’s stock valued at $210,000 after purchasing an additional 93 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Align Technology by 160.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 229 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 141 shares during the period. Allstate Corp lifted its stake in shares of Align Technology by 253.6% in the 1st quarter. Allstate Corp now owns 3,914 shares of the medical equipment provider’s stock valued at $1,113,000 after purchasing an additional 2,807 shares during the period. Finally, M Holdings Securities Inc. acquired a new position in shares of Align Technology in the 1st quarter valued at about $245,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.
ALGN has been the topic of a number of recent analyst reports. Credit Suisse Group dropped their price objective on Align Technology from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Piper Jaffray Companies set a $240.00 price objective on Align Technology and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays dropped their price objective on Align Technology from $300.00 to $272.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Zacks Investment Research downgraded Align Technology from a “hold” rating to a “sell” rating and set a $192.00 price objective on the stock. in a research note on Wednesday, September 25th. Finally, Bank of America downgraded Align Technology from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. Align Technology has an average rating of “Buy” and a consensus price target of $265.27.
ALGN stock opened at $211.56 on Thursday. The stock’s 50 day simple moving average is $183.20 and its 200 day simple moving average is $250.09. Align Technology, Inc. has a fifty-two week low of $169.84 and a fifty-two week high of $339.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.85. The company has a market cap of $16.39 billion, a P/E ratio of 43.00, a price-to-earnings-growth ratio of 1.69 and a beta of 2.00.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.13. Align Technology had a return on equity of 29.26% and a net margin of 19.06%. The business had revenue of $600.70 million for the quarter, compared to the consensus estimate of $599.86 million. During the same period in the prior year, the business earned $1.30 EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. Equities analysts predict that Align Technology, Inc. will post 5 earnings per share for the current year.
Align Technology Profile
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
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