Align Technology, Inc. $ALGN Stock Holdings Increased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1,320.0% in the second quarter, HoldingsChannel reports. The fund owned 62,734 shares of the medical equipment provider’s stock after buying an additional 58,316 shares during the period. Integrated Wealth Concepts LLC’s holdings in Align Technology were worth $10,581,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. California State Teachers Retirement System raised its stake in shares of Align Technology by 16,665.8% during the second quarter. California State Teachers Retirement System now owns 13,294,119 shares of the medical equipment provider’s stock valued at $2,242,186,000 after purchasing an additional 13,214,826 shares in the last quarter. BlackRock Inc. acquired a new stake in Align Technology in the second quarter worth about $745,370,000. Capital International Investors grew its position in Align Technology by 52.2% in the 4th quarter. Capital International Investors now owns 4,643,221 shares of the medical equipment provider’s stock valued at $725,039,000 after buying an additional 1,592,848 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. bought a new position in Align Technology in the 4th quarter valued at about $190,899,000. Finally, Norges Bank acquired a new position in Align Technology during the 4th quarter valued at about $155,556,000. Institutional investors own 88.43% of the company’s stock.

Analyst Ratings Changes

ALGN has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, July 30th. BMO Capital Markets started coverage on Align Technology in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 target price for the company. Finally, UBS Group reaffirmed a “neutral” rating and set a $189.00 price target on shares of Align Technology in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.36.

Align Technology Trading Down 1.4%

Shares of NASDAQ ALGN opened at $150.72 on Friday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $200.43. The firm has a 50-day moving average of $169.67 and a two-hundred day moving average of $172.91. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.63 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the company posted $2.49 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts predict that Align Technology, Inc. will post 9.38 earnings per share for the current year.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) is a global medical device company that designs, manufactures and markets products used in orthodontics and digital dentistry. Its best-known product is the Invisalign system, a series of clear, removable aligners intended to gradually straighten teeth and address certain orthodontic conditions under the supervision of dental professionals.

The company also develops digital dentistry technologies, including iTero intraoral scanners and related software, which create digital impressions and support orthodontic, restorative and implant treatment planning.