Fulcrum Capital LLC Increases Position in Align Technology, Inc. (NASDAQ:ALGN)

Fulcrum Capital LLC raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,723 shares of the medical equipment provider’s stock after purchasing an additional 283 shares during the quarter. Fulcrum Capital LLC’s holdings in Align Technology were worth $2,218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. raised its position in Align Technology by 3.4% in the second quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock valued at $2,495,000 after purchasing an additional 339 shares during the period. Tidal Investments LLC grew its stake in shares of Align Technology by 122.9% in the first quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock worth $1,445,000 after acquiring an additional 2,430 shares in the last quarter. Norden Group LLC grew its stake in shares of Align Technology by 3,647.7% in the first quarter. Norden Group LLC now owns 36,540 shares of the medical equipment provider’s stock worth $11,982,000 after acquiring an additional 35,565 shares in the last quarter. Swedbank AB grew its stake in shares of Align Technology by 2.0% in the second quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider’s stock worth $72,215,000 after acquiring an additional 6,005 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Align Technology in the first quarter worth $2,006,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Insider Activity at Align Technology

In related news, Director C Raymond Larkin, Jr. purchased 6,500 shares of Align Technology stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.62% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on ALGN shares. Stifel Nicolaus dropped their price target on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Morgan Stanley dropped their price target on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Needham & Company LLC started coverage on shares of Align Technology in a research note on Thursday, October 10th. They issued a “hold” rating for the company. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Finally, Piper Sandler dropped their price target on shares of Align Technology from $315.00 to $285.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Align Technology presently has an average rating of “Hold” and an average price target of $291.25.

Align Technology Trading Down 1.5 %

Shares of ALGN stock opened at $207.66 on Thursday. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $335.40. The company has a market cap of $15.63 billion, a P/E ratio of 34.21, a PEG ratio of 5.33 and a beta of 1.64. The firm has a fifty day moving average price of $234.20 and a 200 day moving average price of $250.96.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $1.73 earnings per share. Align Technology’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Align Technology, Inc. will post 7.61 EPS 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.