denkapparat Operations GmbH Purchases New Position in Align Technology, Inc. $ALGN

denkapparat Operations GmbH 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 Securities & Exchange Commission. The fund acquired 3,600 shares of the medical equipment provider’s stock, valued at approximately $607,000.

A number of other institutional investors have also recently made changes to their positions in ALGN. Sunbelt Securities Inc. lifted its position in shares of Align Technology by 222.4% in the fourth quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 109 shares in the last quarter. Blue Trust Inc. boosted its position in Align Technology by 77.5% during the first quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Tobam purchased a new position in shares of Align Technology in the fourth quarter worth about $30,000. Hollencrest Capital Management acquired a new stake in shares of Align Technology during the 1st quarter worth about $34,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Align Technology by 1,773.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 281 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 0.8%

Shares of ALGN stock opened at $158.63 on Friday. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $200.43. The firm’s fifty day moving average price is $171.51 and its two-hundred day moving average price is $174.00. The firm has a market capitalization of $11.36 billion, a P/E ratio of 27.59, a PEG ratio of 1.70 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its earnings results 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. 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%.Align Technology’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.49 earnings per share. As a group, equities research analysts forecast that Align Technology, Inc. will post 9.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALGN has been the topic of several analyst reports. Weiss Ratings downgraded shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Wall Street Zen cut Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. UBS Group restated a “neutral” rating and set a $189.00 price target on shares of Align Technology in a research report on Thursday, July 23rd. Zacks Research cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Finally, BMO Capital Markets initiated coverage on Align Technology in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 price target for the company. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.36.

About Align Technology

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.