542 shares of Align Technology, Inc. (NASDAQ: ALGN) purchased by Meeder Asset Management Inc.
Meeder Asset Management Inc. bought a new position in shares of Align Technology, Inc. (NASDAQ: ALGN – Get a rating) during Q1, according to the company in its most recent SEC filing. The fund bought 542 shares of the medical equipment supplier, valued at around $236,000.
Several other institutional investors and hedge funds have also recently increased or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG increased its stake in Align Technology by 53.8% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 13,031 shares of the medical equipment supplier worth $5,682,000 after buying an additional 4,560 shares in the last quarter. Cannell & Co. increased its stake in Align Technology to 78.9% in Q1. Cannell & Co. now owns 28,341 shares of the medical equipment supplier worth $12,357,000 after buying an additional 12,498 shares in the last quarter. Oak Thistle LLC acquired a new stake in Align Technology during Q1 valued at $926,000. NewEdge Wealth LLC increased its stake in Align Technology by 3.3% in Q1. NewEdge Wealth LLC now owns 2,227 shares of the medical equipment provider worth $971,000 after buying 72 additional shares in the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new stake in Align Technology during the 1st quarter for a value of $2,265,000. Institutional investors and hedge funds hold 88.17% of the company’s shares.
Analyst upgrades and downgrades
Several equity research analysts have released reports on the stock. Stephens lowered his target price on Align Technology shares from $500.00 to $375.00 and set an “overweight” rating on the stock in a Thursday, July 28 research note. Evercore ISI lowered its price target on Align Technology shares from $310.00 to $285.00 in a Thursday, July 28 research report. Robert W. Baird lowered his price target on Align Technology shares from $450.00 to $410.00 and gave the stock an “outperform” rating in a Thursday, July 28 research report. Stifel Nicolaus lowered his price target on Align Technology shares from $425.00 to $375.00 and set a “buy” rating on the stock in a Thursday, July 14 research report. Finally, Goldman Sachs Group cut Align Technology shares from a “buy” rating to a “sell” rating and lowered its price target for the company from $380.00 to $250.00 in a report research on Thursday, July 28. One investment analyst gave the stock a sell rating, one gave the company a hold rating and eight gave the company a buy rating. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $361.67.
Align Technology Trading down 4.2%
Shares of ALGN opened at $269.82 on Friday. The company has a market capitalization of $21.08 billion, a P/E ratio of 34.50, a price-to-earnings growth ratio of 8.48 and a beta of 1.78. Align Technology, Inc. has a 12-month low of $225.86 and a 12-month high of $737.45. The company’s 50-day moving average price is $261.79 and its 200-day moving average price is $346.45.
Alignment technology (NASDAQ: ALGN – Get a rating) last released its quarterly earnings data on Wednesday, July 27. The medical equipment supplier reported earnings per share (EPS) of $2.00 for the quarter, missing the consensus estimate of $2.23 per ($0.23). The company posted revenue of $969.60 million in the quarter, compared to $986.05 million expected by analysts. Align Technology achieved a net margin of 15.52% and a return on equity of 17.47%. The company’s quarterly revenue was down 3.0% year over year. During the same quarter last year, the firm posted earnings per share of $2.51. Equity research analysts expect Align Technology, Inc. to post earnings per share of 7.69 for the current year.
Align technology profile
Align Technology, Inc, a medical device company, designs, manufactures and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general dentists, as well as restorative and cosmetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.
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