Stonehage Fleming Financial Services Holdings Ltd Makes New Investment in Align Technology, Inc. $ALGN

Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,729 shares of the medical equipment provider’s stock, valued at approximately $629,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its position in Align Technology by 320.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock worth $1,247,000 after purchasing an additional 6,085 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Align Technology by 35,513.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider’s stock valued at $85,196,000 after purchasing an additional 544,072 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new stake in shares of Align Technology during the 2nd quarter valued at $1,872,000. Maridea Wealth Management LLC bought a new stake in shares of Align Technology during the 2nd quarter worth $1,659,000. Finally, California State Teachers Retirement System raised its stake in shares of Align Technology by 21.2% during the 1st quarter. California State Teachers Retirement System now owns 79,293 shares of the medical equipment provider’s stock worth $13,593,000 after purchasing an additional 13,867 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ALGN shares. Weiss Ratings lowered shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Evercore lifted their price objective on shares of Align Technology from $200.00 to $220.00 in a research report on Thursday, April 30th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, July 30th. Zacks Research cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, UBS Group reissued a “neutral” rating and set a $189.00 target price on shares of Align Technology in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.36.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $158.84 on Friday. The stock has a market capitalization of $11.38 billion, a PE ratio of 27.62, a P/E/G ratio of 1.69 and a beta of 1.65. Align Technology, Inc. has a one year low of $122.00 and a one year high of $200.43. The business’s fifty day moving average price is $173.50 and its 200-day moving average price is $175.27.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted $2.49 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities analysts expect that Align Technology, Inc. will post 9.38 EPS for the current fiscal year.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.