Jupiter Topco LLC Acquires New Holdings in Align Technology, Inc. $ALGN

Jupiter Topco LLC bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, Holdings Channel.com reports. The firm bought 30,791 shares of the medical equipment provider’s stock, valued at approximately $5,194,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Align Technology by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock valued at $1,624,000 after acquiring an additional 469 shares in the last quarter. Focus Partners Wealth increased its holdings in Align Technology by 5.2% in the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after purchasing an additional 151 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Align Technology in the second quarter valued at about $204,000. EverSource Wealth Advisors LLC boosted its stake in shares of Align Technology by 55.7% during the second quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 190 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Align Technology by 201.7% during the second quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider’s stock valued at $16,712,000 after purchasing an additional 59,010 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Zacks Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. UBS Group reissued a “neutral” rating and set a $189.00 target price on shares of Align Technology in a report on Thursday, July 23rd. BMO Capital Markets began coverage on shares of Align Technology in a research note on Wednesday, July 8th. They set an “outperform” rating and a $209.00 price target for the company. Weiss Ratings lowered shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Finally, Wall Street Zen cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and an average price target of $206.36.

Align Technology Trading Up 1.4%

Shares of Align Technology stock opened at $159.79 on Tuesday. The business has a 50-day moving average price of $172.73 and a two-hundred day moving average price of $174.77. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $200.43. The company has a market cap of $11.44 billion, a P/E ratio of 27.79, a PEG ratio of 1.67 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $2.49 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts forecast 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.