Jacobs Levy Equity Management Inc. Has $137.62 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Jacobs Levy Equity Management Inc. raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 31.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 541,135 shares of the medical equipment provider’s stock after purchasing an additional 129,724 shares during the period. Jacobs Levy Equity Management Inc. owned 0.72% of Align Technology worth $137,621,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ALGN. Cullen Frost Bankers Inc. grew its position in shares of Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 94 shares in the last quarter. Rothschild Investment LLC acquired a new position in Align Technology in the 2nd quarter valued at approximately $26,000. True Wealth Design LLC grew its position in Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 107 shares during the last quarter. Innealta Capital LLC bought a new position in Align Technology in the 2nd quarter valued at $26,000. Finally, Versant Capital Management Inc raised its stake in Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 93 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALGN. Stifel Nicolaus dropped their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Piper Sandler lowered their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Finally, Morgan Stanley dropped their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $276.38.

Align Technology Trading Up 0.6 %

Shares of ALGN opened at $234.14 on Tuesday. The firm’s fifty day simple moving average is $226.43 and its 200-day simple moving average is $236.00. The firm has a market capitalization of $17.48 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 6.03 and a beta of 1.66. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 EPS. On average, analysts predict that Align Technology, Inc. will post 7.45 earnings per share 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, 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.