In Depth Partners LLC Boosts Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

In Depth Partners LLC grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,238 shares of the medical equipment provider’s stock after purchasing an additional 464 shares during the quarter. Align Technology makes up about 4.4% of In Depth Partners LLC’s portfolio, making the stock its 11th biggest holding. In Depth Partners LLC’s holdings in Align Technology were worth $5,653,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Chicago Capital LLC acquired a new stake in Align Technology in the 4th quarter valued at $331,000. Ascent Wealth Partners LLC grew its stake in Align Technology by 407.4% in the 4th quarter. Ascent Wealth Partners LLC now owns 5,515 shares of the medical equipment provider’s stock valued at $1,511,000 after acquiring an additional 4,428 shares during the period. DAVENPORT & Co LLC boosted its stake in Align Technology by 5,179.5% during the 4th quarter. DAVENPORT & Co LLC now owns 114,671 shares of the medical equipment provider’s stock worth $31,576,000 after purchasing an additional 112,499 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Align Technology by 97.2% during the 4th quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock worth $77,000 after purchasing an additional 138 shares during the last quarter. Finally, Factory Mutual Insurance Co. boosted its stake in Align Technology by 26.3% during the 4th quarter. Factory Mutual Insurance Co. now owns 143,293 shares of the medical equipment provider’s stock worth $39,262,000 after purchasing an additional 29,800 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALGN. Robert W. Baird lowered their target price on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Evercore ISI lowered their target price on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 10th. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Piper Sandler lowered their target price on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Finally, Stifel Nicolaus lowered their price target on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Hold” and a consensus target price of $322.78.

Align Technology Trading Up 3.2 %

ALGN traded up $7.20 on Tuesday, hitting $231.16. The company had a trading volume of 1,253,119 shares, compared to its average volume of 783,815. The firm has a market cap of $17.40 billion, a P/E ratio of 38.08, a PEG ratio of 4.88 and a beta of 1.66. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $384.90. The company’s fifty day moving average price is $247.50 and its 200 day moving average price is $279.96.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. Align Technology’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. On average, analysts predict that Align Technology, Inc. will post 7.84 earnings per share 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.