Motley Fool Asset Management LLC Boosts Stake in Align Technology, Inc. (NASDAQ:ALGN)

Motley Fool Asset Management LLC raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,216 shares of the medical equipment provider’s stock after buying an additional 106 shares during the period. Motley Fool Asset Management LLC’s holdings in Align Technology were worth $727,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dynasty Wealth Management LLC purchased a new stake in Align Technology in the 1st quarter valued at about $577,000. Grandeur Peak Global Advisors LLC grew its position in shares of Align Technology by 0.9% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 21,429 shares of the medical equipment provider’s stock valued at $7,027,000 after acquiring an additional 198 shares during the period. 2Xideas AG grew its position in shares of Align Technology by 3.6% during the 1st quarter. 2Xideas AG now owns 36,689 shares of the medical equipment provider’s stock valued at $12,031,000 after acquiring an additional 1,279 shares during the period. WMS Partners LLC grew its position in shares of Align Technology by 97.9% during the 1st quarter. WMS Partners LLC now owns 9,907 shares of the medical equipment provider’s stock valued at $3,249,000 after acquiring an additional 4,900 shares during the period. Finally, In Depth Partners LLC grew its position in shares of Align Technology by 2.8% during the 1st quarter. In Depth Partners LLC now owns 17,238 shares of the medical equipment provider’s stock valued at $5,653,000 after acquiring an additional 464 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

NASDAQ:ALGN traded up $0.72 during trading hours on Wednesday, hitting $231.88. The stock had a trading volume of 856,766 shares, compared to its average volume of 784,317. The company has a 50 day simple moving average of $246.92 and a two-hundred day simple moving average of $279.63. Align Technology, Inc. has a one year low of $176.34 and a one year high of $384.90. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 38.20, a P/E/G ratio of 5.08 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $1.73 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Align Technology, Inc. will post 7.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ALGN shares. Stifel Nicolaus reduced their target price on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. OTR Global reissued a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Morgan Stanley cut their price objective on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Evercore ISI cut their price objective on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 10th. Finally, Robert W. Baird cut their price objective on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology presently has an average rating of “Hold” and a consensus target price of $322.78.

Align Technology 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.