Align Technology, Inc. $ALGN Stock: Mather Group LLC. Grows Stake

Mather Group LLC. raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3,686.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 25,216 shares of the medical equipment provider’s stock after acquiring an additional 24,550 shares during the quarter. Mather Group LLC.’s holdings in Align Technology were worth $3,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. grew its position in shares of Align Technology by 77.5% during the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 69 shares during the period. Tobam purchased a new stake in shares of Align Technology in the 4th quarter worth $30,000. Hollencrest Capital Management bought a new position in Align Technology in the 1st quarter worth $34,000. Osterweis Capital Management Inc. bought a new position in Align Technology in the 2nd quarter worth $36,000. Finally, Global Retirement Partners LLC bought a new position in Align Technology in the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALGN. UBS Group reiterated a “neutral” rating and set a $189.00 target price on shares of Align Technology in a research report on Thursday, July 23rd. Zacks Research lowered Align Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Leerink Partners reduced their price target on Align Technology from $235.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday. BMO Capital Markets started coverage on Align Technology in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 price objective on the stock. Finally, Wall Street Zen downgraded Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and an average price target of $194.14.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $149.34 on Friday. Align Technology, Inc. has a 1-year low of $128.65 and a 1-year high of $200.43. The company has a market capitalization of $10.70 billion, a P/E ratio of 25.97, a P/E/G ratio of 1.54 and a beta of 1.67. The firm’s 50 day simple moving average is $154.54 and its two-hundred day simple moving average is $167.32.

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 analysts’ consensus estimates of $2.62 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.49 earnings per share. On average, sell-side analysts anticipate that Align Technology, Inc. will post 9.36 earnings per share for the current fiscal year.

About Align Technology

Align Technology, Inc is a medical device and digital technology company that designs, manufactures and markets products used in orthodontics and restorative dentistry. The company is best known for Invisalign clear aligners, which are custom-made orthodontic devices intended to gradually move patients’ teeth under the supervision of dental professionals.

Align also develops the iTero family of intraoral scanners and related digital imaging systems, which help dental professionals create digital impressions and treatment plans.