Lake Street Advisors Group LLC Boosts Stake in Align Technology, Inc. (NASDAQ:ALGN)

Lake Street Advisors Group LLC raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,042 shares of the medical equipment provider’s stock after purchasing an additional 55 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Align Technology were worth $265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Align Technology by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock valued at $2,746,378,000 after buying an additional 25,362 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Align Technology by 1.4% in 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 during the period. Ninety One UK Ltd raised its stake in shares of Align Technology by 1.0% in 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 during the period. Bares Capital Management Inc. lifted its holdings in shares of Align Technology by 44.4% during the 1st quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock valued at $268,871,000 after acquiring an additional 252,220 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its position 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 worth $170,822,000 after purchasing an additional 3,600 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of Align Technology stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the transaction, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ALGN shares. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Stifel Nicolaus lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday. Evercore ISI reduced their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Robert W. Baird lowered their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Align Technology currently has a consensus rating of “Hold” and an average price target of $276.38.

Align Technology Stock Performance

Shares of Align Technology stock opened at $219.30 on Friday. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $335.40. The firm’s 50-day simple moving average is $233.41 and its 200-day simple moving average is $250.02. The firm has a market cap of $16.51 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The firm had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same quarter in the prior year, the firm posted $1.62 earnings per share. Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts predict that Align Technology, Inc. will post 7.61 earnings per share for the current year.

Align Technology Company 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.