Align Technology, Inc. $ALGN Stock Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its holdings in Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 3,092.5% in the third quarter, Holdings Channel reports. The institutional investor owned 377,037 shares of the medical equipment provider’s stock after buying an additional 365,227 shares during the period. Nisa Investment Advisors LLC’s holdings in Align Technology were worth $50,034,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bessemer Group Inc. boosted its stake in shares of Align Technology by 37.2% in the first quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock valued at $43,000 after buying an additional 67 shares during the period. Blue Trust Inc. grew its position in Align Technology by 77.5% during the first quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Empirical Finance LLC grew its position in Align Technology by 2.9% during the second quarter. Empirical Finance LLC now owns 2,570 shares of the medical equipment provider’s stock worth $433,000 after buying an additional 73 shares in the last quarter. First Bank & Trust increased its stake in Align Technology by 5.0% during the 2nd quarter. First Bank & Trust now owns 1,599 shares of the medical equipment provider’s stock worth $270,000 after acquiring an additional 76 shares during the period. Finally, M.E. Allison & CO. Inc. increased its stake in Align Technology by 1.9% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 4,235 shares of the medical equipment provider’s stock worth $714,000 after acquiring an additional 80 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ALGN shares. Leerink Partners dropped their price objective on Align Technology from $235.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Weiss Ratings raised Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. Stifel Nicolaus reduced their target price on Align Technology from $210.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Raymond James Financial restated a “buy” rating on shares of Align Technology in a research report on Monday, October 5th. Finally, Zacks Research downgraded Align Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.14.

View Our Latest Stock Analysis on ALGN

Align Technology Stock Up 1.0%

NASDAQ ALGN opened at $150.49 on Wednesday. Align Technology, Inc. has a twelve month low of $130.23 and a twelve month high of $200.43. The company has a market cap of $10.78 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 1.59 and a beta of 1.67. The business’s fifty day moving average is $153.02 and its 200 day moving average is $166.88.

Align Technology (NASDAQ:ALGN – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the company posted $2.49 EPS. Align Technology’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that Align Technology, Inc. will post 9.36 earnings per share for the current fiscal year.

Align Technology Profile

(Free Report)

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align’s products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.

See Also

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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