Align Technology, Inc. $ALGN Stake Increased by Howland Capital Management LLC

Howland Capital Management LLC raised its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 28,804.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 403,801 shares of the medical equipment provider’s stock after purchasing an additional 402,404 shares during the period. Align Technology makes up about 1.9% of Howland Capital Management LLC’s portfolio, making the stock its 13th largest holding. Howland Capital Management LLC’s holdings in Align Technology were worth $53,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Isthmus Partners LLC grew its position in Align Technology by 3.7% during the third quarter. Isthmus Partners LLC now owns 2,601 shares of the medical equipment provider’s stock worth $378,000 after buying an additional 92 shares in the last quarter. Root Financial Partners LLC acquired a new position in Align Technology in the 3rd quarter valued at $405,000. SBI Securities Co. Ltd. raised its holdings in Align Technology by 211.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 2,075 shares of the medical equipment provider’s stock valued at $284,000 after acquiring an additional 1,408 shares in the last quarter. Skylands Capital LLC raised its holdings in Align Technology by 28.0% in the 3rd quarter. Skylands Capital LLC now owns 19,900 shares of the medical equipment provider’s stock valued at $2,892,000 after acquiring an additional 4,350 shares in the last quarter. Finally, Trifecta Capital Advisors LLC lifted its position in shares of Align Technology by 17,241.5% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 47,689 shares of the medical equipment provider’s stock valued at $6,313,000 after acquiring an additional 47,414 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Raymond James Financial reissued a “buy” rating on shares of Align Technology in a report on Monday, October 5th. Weiss Ratings upgraded Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. BMO Capital Markets began coverage on Align Technology in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.93.

Align Technology Stock Performance

Align Technology stock opened at $155.51 on Friday. Align Technology, Inc. has a 52 week low of $130.23 and a 52 week high of $200.43. The stock has a market capitalization of $11.14 billion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 1.62 and a beta of 1.67. The stock has a fifty day moving average of $152.16 and a 200-day moving average of $166.63.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Align Technology had a return on equity of 15.86% and a net margin of 9.99%. Align Technology’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $2.49 earnings per share. On average, research analysts forecast that Align Technology, Inc. will post 9.34 earnings per share for the current year.

Align Technology Company Profile

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.