FORA Capital LLC Buys Shares of 2,320 Align Technology, Inc. (NASDAQ:ALGN)

FORA Capital LLC purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, Holdings Channel reports. The fund purchased 2,320 shares of the medical equipment provider’s stock, valued at approximately $590,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGN. Townsquare Capital LLC boosted its stake in shares of Align Technology by 61.4% during the 3rd quarter. Townsquare Capital LLC now owns 12,506 shares of the medical equipment provider’s stock valued at $3,181,000 after buying an additional 4,758 shares during the period. Brooklyn Investment Group acquired a new stake in Align Technology during the third quarter valued at $77,000. D.A. Davidson & CO. boosted its position in Align Technology by 11.0% during the third quarter. D.A. Davidson & CO. now owns 7,336 shares of the medical equipment provider’s stock valued at $1,866,000 after purchasing an additional 725 shares during the last quarter. FMR LLC grew its stake in Align Technology by 43.0% in the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after purchasing an additional 367,508 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Align Technology by 0.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 74,354 shares of the medical equipment provider’s stock worth $18,910,000 after purchasing an additional 255 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALGN has been the subject of several recent research reports. Robert W. Baird lowered their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Piper Sandler dropped their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Evercore ISI reduced their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley decreased their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Align Technology has an average rating of “Hold” and a consensus target price of $276.38.

Align Technology Price Performance

NASDAQ:ALGN opened at $229.66 on Friday. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The company has a fifty day moving average price of $226.83 and a 200 day moving average price of $236.87. The stock has a market cap of $17.14 billion, a P/E ratio of 39.19, a PEG ratio of 6.23 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same quarter in the prior year, the business earned $1.62 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current year.

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.