Align Technology, Inc. $ALGN Shares Bought by Tema Etfs LLC

Tema Etfs LLC lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 107.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,341 shares of the medical equipment provider’s stock after buying an additional 3,282 shares during the quarter. Tema Etfs LLC’s holdings in Align Technology were worth $1,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGN. Rothschild Investment LLC grew its position in shares of Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares during the period. True Wealth Design LLC raised its holdings in Align Technology by 7,650.0% in the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 153 shares during the period. Cromwell Holdings LLC raised its stake in shares of Align Technology by 2,900.0% in the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 174 shares during the period. SVB Wealth LLC acquired a new position in shares of Align Technology during the first quarter worth about $36,000. Finally, MAI Capital Management lifted its position in Align Technology by 84.8% during the 2nd quarter. MAI Capital Management now owns 255 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 117 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Trading Up 1.2%

Shares of ALGN opened at $156.84 on Friday. The business’s 50-day moving average price is $136.38 and its 200 day moving average price is $155.66. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $246.19. The stock has a market capitalization of $11.25 billion, a P/E ratio of 30.40, a P/E/G ratio of 1.89 and a beta of 1.86.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. The business had revenue of $995.69 million for the quarter, compared to the consensus estimate of $980.75 million. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.35 earnings per share. On average, research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Mizuho dropped their price target on Align Technology from $210.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, October 13th. Weiss Ratings cut shares of Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Wall Street Zen raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, HSBC raised their target price on Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Align Technology has an average rating of “Hold” and a consensus price target of $175.45.

Align Technology Company 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.