Mirae Asset Global Investments Co. Ltd. increased its holdings in Align Technology, Inc. (NASDAQ:ALGN – Free Report ) by 346.3% during the first quarter, according to the company’s latest Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired an additional 46,831 shares during the period, bringing its holdings to 60,354 shares of the medical equipment provider’s stock. Mirae Asset Global Investments Co. Ltd. held approximately 0.08% of Align Technology’s shares, valued at $18,587,000, as of the end of the most recent quarter.
A number of other hedge funds and institutional investors also modified their holdings in ALGN. Mather Group LLC purchased a new stake in Align Technology worth approximately $26,000 in the first quarter. Lindbrook Capital LLC increased its holdings in Align Technology by 47.2% in the first quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 60 shares in the last quarter. Orion Capital Management LLC purchased a new holding in Align Technology worth approximately $61,000 in the third quarter. Venturi Wealth Management LLC increased its holdings in Align Technology by 97.2% in the fourth quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock valued at $77,000 after acquiring an additional 138 shares in the last quarter. Finally, Scarborough Advisors LLC acquired approximately $86,000 worth of shares in Align Technology during the 4th quarter. 88.43% of the stock is now owned by institutional investors and hedge funds.
Align Technology Stock Performance
Align Technology’s shares opened trading at $243.60 on Friday. The stock has a market cap of $18.34 billion, a price-to-earnings ratio of 40.13, a price-to-earnings growth ratio of 4.51 and a beta of 1.66. The stock’s 50-day moving average price is $259.94 and its 200-day moving average price is $283.25. Align Technology’s 52-week low is $176.34 and its 52-week high is $413.20.
Align Technology (NASDAQ:ALGN – Get free report ) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported quarterly earnings per share (EPS) of $1.62, beating analysts’ consensus estimates of $1.54 by $0.08. The company had revenue of $997.43 million for the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had net margins of 11.80% and return on equity of 14.15%. Research analysts expect Align Technology, Inc. to post 7.86 EPS for the current fiscal year.
Analyst Rating Changes
Several brokerage firms have commented on ALGN. Evercore ISI lowered their price target on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Stifel Nicolaus increased their price target on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. UBS Group increased their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Piper Sandler lowered their price target on Align Technology from $375.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, OTR Global reiterated a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4. One research analyst has rated the stock to sell, three have rated it to hold, and seven have rated it to buy. Based on data from MarketBeat.com, the stock has an average rating of a “moderate buy” and an average target price of $346.50.
View the latest stock analysis for Align Technology
About Align Technology
(Free report)
Align Technology, Inc designs, manufactures and distributes Invisalign clear aligners, iTero intraoral scanners and services to orthodontists and general practice dentists in the United States, Switzerland and worldwide. The company’s clear aligner division offers comprehensive products, including the Invisalign Comprehensive Package to address the orthodontic needs of younger patients, including mandibular advancement, compliance indicators and tooth eruption correction, as well as the Invisalign First Phase I and Invisalign First Comprehensive Phase 2 packages for younger patients, typically between the ages of 6 and 10, who have a mix of primary and permanent teeth.
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