Oak Thistle LLC Takes $2.41 Million Position in Align Technology, Inc. $ALGN

Oak Thistle LLC bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,230 shares of the medical equipment provider’s stock, valued at approximately $2,408,000.

Other hedge funds have also recently bought and sold shares of the company. Public Sector Pension Investment Board grew its holdings in shares of Align Technology by 8.9% during the 1st quarter. Public Sector Pension Investment Board now owns 9,502 shares of the medical equipment provider’s stock worth $1,509,000 after purchasing an additional 779 shares in the last quarter. Vestmark Advisory Solutions Inc. acquired a new position in shares of Align Technology in the 1st quarter worth approximately $250,000. Horizon Investments LLC lifted its stake in Align Technology by 6.2% in the first quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider’s stock valued at $162,000 after buying an additional 59 shares during the period. Aberdeen Group plc boosted its position in shares of Align Technology by 5.0% during the 1st quarter. Aberdeen Group plc now owns 28,852 shares of the medical equipment provider’s stock worth $4,549,000 after purchasing an additional 1,372 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Align Technology by 48.1% in the 1st quarter. American Century Companies Inc. now owns 44,385 shares of the medical equipment provider’s stock valued at $7,051,000 after purchasing an additional 14,417 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 0.1%

NASDAQ:ALGN opened at $162.89 on Wednesday. The company has a 50-day moving average price of $141.68 and a 200-day moving average price of $154.46. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 31.57, a P/E/G ratio of 1.98 and a beta of 1.86. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $237.23.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company had revenue of $995.69 million during the quarter, compared to analyst estimates of $980.75 million. During the same period last year, the business earned $2.35 EPS. Align Technology’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings lowered Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Align Technology from $142.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Zacks Research upgraded Align Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Finally, Evercore ISI reduced their price target on shares of Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Align Technology has an average rating of “Hold” and a consensus price target of $172.18.

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.