Massachusetts Financial Services Co. MA Purchases 89,267 Shares of Align Technology, Inc. $ALGN

Massachusetts Financial Services Co. MA boosted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 54.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 254,410 shares of the medical equipment provider’s stock after buying an additional 89,267 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Align Technology were worth $31,857,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ALGN. Rothschild Investment LLC lifted its holdings in shares of Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 87 shares during the period. True Wealth Design LLC raised its position in Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 153 shares in the last quarter. Cromwell Holdings LLC lifted its stake in Align Technology by 2,900.0% during the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 174 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in Align Technology during the second quarter worth $36,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Align Technology in the 2nd quarter valued at $38,000. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings raised Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Morgan Stanley boosted their target price on Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Jefferies Financial Group raised their price target on shares of Align Technology from $140.00 to $155.00 in a research note on Thursday, October 30th. Zacks Research raised shares of Align Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Finally, Stifel Nicolaus set a $200.00 price objective on shares of Align Technology in a research note on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $176.82.

Align Technology Trading Down 0.6%

Shares of ALGN stock opened at $168.92 on Friday. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.91 and a beta of 1.83. The business’s 50-day moving average price is $157.33 and its 200-day moving average price is $150.92. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $235.55.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.23. The company had revenue of $995.69 million during the quarter, compared to the consensus estimate of $980.75 million. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 earnings per share. On average, sell-side analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.