Braidwell LP Buys 36,472 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Braidwell LP raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 13.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 311,679 shares of the medical equipment provider’s stock after acquiring an additional 36,472 shares during the period. Align Technology comprises approximately 2.2% of Braidwell LP’s investment portfolio, making the stock its 14th largest holding. Braidwell LP owned 0.42% of Align Technology worth $79,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. FMR LLC lifted its stake in Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after acquiring an additional 367,508 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Align Technology by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock valued at $277,230,000 after acquiring an additional 15,540 shares in the last quarter. Ninety One UK Ltd lifted its stake in Align Technology by 1.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock valued at $276,950,000 after acquiring an additional 10,919 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in Align Technology by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock valued at $170,822,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Align Technology by 4,391.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock valued at $117,879,000 after purchasing an additional 477,380 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Robert W. Baird decreased their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus decreased their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Finally, Morgan Stanley decreased their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $276.38.

Align Technology Stock Up 0.8 %

ALGN stock opened at $229.66 on Friday. The firm has a market capitalization of $17.14 billion, a PE ratio of 39.19, a PEG ratio of 5.95 and a beta of 1.65. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40. The stock has a 50-day simple moving average of $226.83 and a two-hundred day simple moving average of $236.87.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

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.