LVM Capital Management Ltd. MI Takes $720,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

LVM Capital Management Ltd. MI purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,037 shares of the medical equipment provider’s stock, valued at approximately $720,000.

Other hedge funds have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC acquired a new stake in shares of Align Technology during the first quarter valued at about $323,000. Manchester Capital Management LLC bought a new position in shares of Align Technology during the first quarter worth about $26,000. Czech National Bank raised its position in shares of Align Technology by 0.6% during the first quarter. Czech National Bank now owns 8,558 shares of the medical equipment provider’s stock worth $2,860,000 after acquiring an additional 55 shares during the last quarter. Drive Wealth Management LLC bought a new position in shares of Align Technology during the first quarter worth about $265,000. Finally, Desjardins Global Asset Management Inc. raised its position in shares of Align Technology by 146.8% during the first quarter. Desjardins Global Asset Management Inc. now owns 533 shares of the medical equipment provider’s stock worth $178,000 after acquiring an additional 317 shares during the last quarter. 87.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on Align Technology from $367.00 to $400.00 in a research report on Thursday, July 27th. Morgan Stanley raised their price objective on Align Technology from $383.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Stifel Nicolaus lifted their target price on Align Technology from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. StockNews.com began coverage on Align Technology in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, HSBC began coverage on Align Technology in a report on Wednesday, August 30th. They issued a “buy” rating and a $450.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average target price of $380.33.

Align Technology Stock Performance

Shares of NASDAQ ALGN traded down $1.73 during midday trading on Friday, hitting $331.11. 225,472 shares of the stock traded hands, compared to its average volume of 832,830. The company has a market cap of $25.34 billion, a PE ratio of 81.78, a P/E/G ratio of 2.55 and a beta of 1.63. Align Technology, Inc. has a one year low of $172.05 and a one year high of $413.20. The business has a 50 day moving average price of $354.73 and a two-hundred day moving average price of $331.41.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.64 by $0.09. The firm had revenue of $1 billion during 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%. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.2 EPS for the current fiscal 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).