Shelton Capital Management lessened its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,634 shares of the medical equipment provider’s stock after selling 224 shares during the quarter. Shelton Capital Management’s holdings in Align Technology were worth $2,217,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Manchester Capital Management LLC bought a new stake in Align Technology in the 1st quarter worth approximately $26,000. CVA Family Office LLC lifted its position in Align Technology by 46.7% in the 1st quarter. CVA Family Office LLC now owns 110 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 35 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Align Technology in the 1st quarter worth approximately $41,000. Zions Bancorporation N.A. lifted its position in Align Technology by 85.5% in the fourth quarter. Zions Bancorporation N.A. now owns 128 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Finally, Ronald Blue Trust Inc. lifted its position in Align Technology by 42.6% in the first quarter. Ronald Blue Trust Inc. now owns 134 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 87.07% of the company’s stock.
Wall Street Analyst Weigh In
ALGN has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on Align Technology from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Jefferies Financial Group boosted their price objective on Align Technology from $367.00 to $400.00 in a research report on Thursday, July 27th. Robert W. Baird boosted their price objective on Align Technology from $385.00 to $406.00 in a research report on Thursday, July 27th. Morgan Stanley boosted their target price on Align Technology from $383.00 to $415.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Finally, HSBC initiated coverage on Align Technology in a research note on Wednesday. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $371.63.
Align Technology Price Performance
Shares of NASDAQ:ALGN opened at $367.62 on Wednesday. The company has a market cap of $28.13 billion, a P/E ratio of 90.32, a PEG ratio of 2.84 and a beta of 1.63. Align Technology, Inc. has a 1 year low of $172.05 and a 1 year high of $413.20. The stock’s fifty day moving average price is $351.70 and its 200-day moving average price is $328.74.
Align Technology (NASDAQ:ALGN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.09. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $985.87 million. Align Technology had a return on equity of 11.42% and a net margin of 8.40%. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.2 earnings per share for the current year.
About Align Technology
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, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).
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