Charles Schwab Investment Management Inc. Has $113.94 Million Position in Align Technology, Inc. (NASDAQ:ALGN)

Charles Schwab Investment Management Inc. lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 448,028 shares of the medical equipment provider’s stock after purchasing an additional 10,887 shares during the period. Charles Schwab Investment Management Inc. owned 0.60% of Align Technology worth $113,942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its stake in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 94 shares during the period. Innealta Capital LLC bought a new stake in Align Technology in the 2nd quarter valued at $26,000. Rothschild Investment LLC acquired a new stake in Align Technology during the 2nd quarter valued at $26,000. Versant Capital Management Inc increased its holdings in shares of Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 93 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of Align Technology in the first quarter valued at about $29,000. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Performance

ALGN opened at $240.52 on Tuesday. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The firm has a market cap of $17.95 billion, a P/E ratio of 41.04, a price-to-earnings-growth ratio of 5.85 and a beta of 1.65. The business’s fifty day moving average is $228.36 and its 200-day moving average is $237.28.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALGN. Robert W. Baird reduced their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Morgan Stanley dropped their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Piper Sandler decreased their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Evercore ISI dropped their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Hold” and an average target price of $276.38.

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.