3,808 Shares in Align Technology, Inc. (NASDAQ:ALGN) Acquired by XTX Topco Ltd

XTX Topco Ltd purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,808 shares of the medical equipment provider’s stock, valued at approximately $968,000.

A number of other institutional investors have also added to or reduced their stakes in ALGN. Wellington Management Group LLP raised its stake in Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after buying an additional 866,663 shares during the period. Holocene Advisors LP acquired a new position in Align Technology during the 3rd quarter worth approximately $137,287,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in 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 worth $117,879,000 after buying an additional 477,380 shares during the period. FMR LLC raised 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 worth $310,736,000 after buying an additional 367,508 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of Align Technology by 96.3% in the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after purchasing an additional 330,807 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALGN has been the subject of several analyst reports. Piper Sandler lowered their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Evercore ISI lowered their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Robert W. Baird lowered their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Stifel Nicolaus lowered their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average target price of $278.44.

Align Technology Stock Down 0.2 %

ALGN stock opened at $237.16 on Wednesday. The business has a 50 day moving average of $224.39 and a 200-day moving average of $234.67. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40. The firm has a market cap of $17.70 billion, a PE ratio of 40.47, a P/E/G ratio of 6.02 and a beta of 1.66.

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