Daiwa Securities Group Inc. Purchases 928 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Daiwa Securities Group Inc. increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 10.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,804 shares of the medical equipment provider’s stock after acquiring an additional 928 shares during the period. Daiwa Securities Group Inc.’s holdings in Align Technology were worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SVB Wealth LLC purchased a new stake in shares of Align Technology in the first quarter worth $240,000. Tidal Investments LLC raised its holdings in shares of Align Technology by 122.9% in the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock valued at $1,445,000 after acquiring an additional 2,430 shares in the last quarter. Comerica Bank boosted its position in shares of Align Technology by 4.9% during the 1st quarter. Comerica Bank now owns 28,842 shares of the medical equipment provider’s stock valued at $9,458,000 after acquiring an additional 1,352 shares during the last quarter. Wahed Invest LLC grew its holdings in shares of Align Technology by 14.1% during the first quarter. Wahed Invest LLC now owns 1,485 shares of the medical equipment provider’s stock worth $487,000 after purchasing an additional 183 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Align Technology in the first quarter worth approximately $29,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ALGN. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Robert W. Baird cut their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus lowered their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Evercore ISI cut their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Piper Sandler decreased their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $276.38.

Align Technology Stock Performance

Shares of ALGN stock opened at $229.66 on Thursday. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The firm has a market cap of $17.14 billion, a P/E ratio of 39.19, a P/E/G ratio of 6.23 and a beta of 1.65. The business’s 50 day moving average price is $227.38 and its 200-day moving average price is $236.92.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same quarter in the previous year, the business posted $1.62 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts predict that Align Technology, Inc. will post 7.45 EPS for the current year.

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.