Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 9.3% during the third quarter, HoldingsChannel.com reports. The fund owned 2,251 shares of the medical equipment provider’s stock after acquiring an additional 191 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Align Technology were worth $566,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ALGN. Wellington Management Group LLP boosted its position in Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Align Technology in the 3rd quarter worth about $137,287,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in Align Technology by 4,391.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock valued at $117,879,000 after acquiring an additional 477,380 shares during the last quarter. FMR LLC increased its holdings in Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after acquiring an additional 367,508 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Align Technology by 96.3% during the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after acquiring an additional 330,807 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Price Performance

NASDAQ ALGN opened at $235.39 on Friday. The company has a market cap of $17.57 billion, a P/E ratio of 40.17, a P/E/G ratio of 6.20 and a beta of 1.66. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The company has a 50-day moving average of $224.11 and a 200-day moving average of $234.44.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Robert W. Baird lowered their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Piper Sandler reduced their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley dropped their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $271.20.

About Align Technology

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.