Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,375,147 shares of the medical equipment provider’s stock after acquiring an additional 25,362 shares during the period. Vanguard Group Inc. owned about 11.13% of Align Technology worth $2,746,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in shares of Align Technology during the first quarter worth about $26,000. Lindbrook Capital LLC lifted its holdings in Align Technology by 47.2% during the 1st quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock worth $61,000 after buying an additional 60 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Align Technology by 97.2% in the 4th quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock valued at $77,000 after buying an additional 138 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Align Technology in the fourth quarter worth $86,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Align Technology by 61.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 328 shares of the medical equipment provider’s stock worth $90,000 after acquiring an additional 125 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on ALGN shares. UBS Group boosted their target price on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Robert W. Baird boosted their price objective on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Evercore ISI reduced their target price on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. OTR Global reiterated a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, Piper Sandler reissued an “overweight” rating and issued a $330.00 price objective on shares of Align Technology in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and an average price target of $346.50.

Align Technology Price Performance

Shares of NASDAQ:ALGN traded up $0.94 during trading on Friday, hitting $251.60. 682,064 shares of the company were exchanged, compared to its average volume of 742,456. The firm’s 50 day moving average price is $252.73 and its 200-day moving average price is $281.59. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The stock has a market capitalization of $18.94 billion, a P/E ratio of 41.45, a PEG ratio of 4.67 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.54 by $0.08. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The firm had revenue of $997.43 million for the quarter, compared to analyst estimates of $971.97 million. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.84 EPS 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.