1,859 Shares in Align Technology, Inc. (NASDAQ:ALGN) Purchased by WD Rutherford LLC

WD Rutherford LLC acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,859 shares of the medical equipment provider’s stock, valued at approximately $610,000.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Align Technology by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 8,349,785 shares of the medical equipment provider’s stock worth $2,287,841,000 after acquiring an additional 104,132 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Align Technology by 41.4% during the fourth quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock worth $413,488,000 after buying an additional 441,754 shares in the last quarter. Morgan Stanley raised its position in shares of Align Technology by 9.8% in the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after buying an additional 90,581 shares during the last quarter. Norges Bank purchased a new position in shares of Align Technology in the fourth quarter worth about $223,610,000. Finally, Ameriprise Financial Inc. boosted its position in Align Technology by 348.9% during the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after acquiring an additional 587,886 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Trading Down 0.6 %

ALGN traded down $1.57 during mid-day trading on Friday, hitting $241.43. 1,346,028 shares of the stock were exchanged, compared to its average volume of 881,732. The company has a market cap of $18.17 billion, a PE ratio of 39.77, a PEG ratio of 4.50 and a beta of 1.62. The firm’s fifty day moving average is $266.69 and its two-hundred day moving average is $283.24. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.54 by $0.08. The business had revenue of $997.43 million during the quarter, compared to analyst estimates of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. As a group, research analysts anticipate that Align Technology, Inc. will post 7.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALGN has been the subject of several recent research reports. Piper Sandler cut their price target on Align Technology from $375.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Morgan Stanley raised their target price on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Stifel Nicolaus upped their price objective on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Evercore ISI reduced their target price on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 10th. Finally, OTR Global reissued a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and an average price target of $346.50.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.