Align Technology, Inc. $ALGN Stake Raised by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 17.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,897 shares of the medical equipment provider’s stock after purchasing an additional 46,935 shares during the period. Thrivent Financial for Lutherans owned approximately 0.44% of Align Technology worth $60,945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALGN. Public Sector Pension Investment Board boosted its holdings in Align Technology by 8.9% during the first quarter. Public Sector Pension Investment Board now owns 9,502 shares of the medical equipment provider’s stock worth $1,509,000 after buying an additional 779 shares in the last quarter. Vestmark Advisory Solutions Inc. bought a new stake in shares of Align Technology during the 1st quarter worth $250,000. Horizon Investments LLC grew its holdings in shares of Align Technology by 6.2% in the 1st quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider’s stock worth $162,000 after acquiring an additional 59 shares during the last quarter. Aberdeen Group plc raised its position in shares of Align Technology by 5.0% during the first 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 during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Align Technology by 48.1% during the first 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 last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

Align Technology stock opened at $165.43 on Monday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $238.11. The firm has a market cap of $11.87 billion, a PE ratio of 32.06, a P/E/G ratio of 2.01 and a beta of 1.86. The firm’s 50 day moving average price is $140.41 and its two-hundred day moving average price is $154.73.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, beating 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 business had revenue of $995.69 million for the quarter, compared to analysts’ expectations of $980.75 million. During the same period in the previous year, the company posted $2.35 EPS. Align Technology’s revenue was up 1.8% on a year-over-year basis. Equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ALGN shares. Zacks Research raised Align Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Stifel Nicolaus set a $200.00 target price on shares of Align Technology in a research report on Thursday, October 30th. 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 report on Thursday, October 30th. Wells Fargo & Company lowered their price objective on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Wall Street Zen lowered Align Technology from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Align Technology presently has an average rating of “Hold” and an average price target of $172.18.

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.