Align Technology, Inc. (NASDAQ:ALGN) Holdings Raised by Amalgamated Bank

Amalgamated Bank grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,053 shares of the medical equipment provider’s stock after purchasing an additional 1,013 shares during the period. Amalgamated Bank’s holdings in Align Technology were worth $8,743,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ALGN. Tsfg LLC lifted its stake in Align Technology by 200.0% in the 1st quarter. Tsfg LLC now owns 75 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 50 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in Align Technology in the 4th quarter worth about $64,000. Gradient Investments LLC lifted its stake in Align Technology by 1,428.6% in the 1st quarter. Gradient Investments LLC now owns 107 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in Align Technology by 3,733.3% in the 1st quarter. SOA Wealth Advisors LLC. now owns 115 shares of the medical equipment provider’s stock worth $50,000 after acquiring an additional 112 shares in the last quarter. Finally, Allworth Financial LP increased its position in Align Technology by 11,400.0% in the 1st quarter. Allworth Financial LP now owns 115 shares of the medical equipment provider’s stock worth $50,000 after purchasing an additional 114 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ALGN shares. The Goldman Sachs Group lowered Align Technology from a “buy” rating to a “sell” rating and dropped their target price for the stock from $380.00 to $250.00 in a research report on Thursday, July 28th. Evercore ISI dropped their target price on Align Technology from $310.00 to $285.00 in a research report on Thursday, July 28th. Piper Sandler dropped their target price on Align Technology from $370.00 to $340.00 and set an “overweight” rating on the stock in a research report on Friday, September 9th. Morgan Stanley dropped their target price on Align Technology from $438.00 to $402.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Finally, Stephens dropped their target price on Align Technology from $500.00 to $375.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and an average price target of $358.33.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $249.02 on Friday. The firm has a market cap of $19.45 billion, a price-to-earnings ratio of 31.84, a P/E/G ratio of 7.52 and a beta of 1.80. The business’s 50-day simple moving average is $264.80 and its 200-day simple moving average is $310.81. Align Technology, Inc. has a 52 week low of $225.86 and a 52 week high of $737.45.

Align Technology (NASDAQ:ALGNGet Rating) last released its earnings results on Wednesday, July 27th. The medical equipment provider reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.23). The business had revenue of $969.60 million during the quarter, compared to analyst estimates of $986.05 million. Align Technology had a net margin of 15.52% and a return on equity of 17.47%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business earned $2.51 EPS. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.76 earnings per share for the current year.

Align Technology Profile

(Get Rating)

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

Featured Stories

Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGNGet Rating).

Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.