21,618 Shares in Align Technology, Inc. $ALGN Bought by Empowered Funds LLC

Empowered Funds LLC bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 21,618 shares of the medical equipment provider’s stock, valued at approximately $3,646,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its position in Align Technology by 320.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock valued at $1,247,000 after purchasing an additional 6,085 shares during the period. K.J. Harrison & Partners Inc acquired a new position in shares of Align Technology in the 2nd quarter worth approximately $1,872,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Align Technology by 35,513.8% in 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. Maridea Wealth Management LLC bought a new stake in shares of Align Technology in the 2nd quarter valued at $1,659,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Align Technology in the 2nd quarter valued at $1,128,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of ALGN opened at $154.96 on Wednesday. Align Technology, Inc. has a one year low of $122.00 and a one year high of $200.43. The company has a market cap of $11.10 billion, a PE ratio of 26.95, a P/E/G ratio of 1.70 and a beta of 1.65. The stock has a 50-day moving average of $172.46 and a 200-day moving average of $174.47.

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

Analyst Ratings Changes

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

Align Technology Company 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.