Pacer Advisors Inc. Purchases 221,114 Shares of Align Technology, Inc. $ALGN

Pacer Advisors Inc. boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 1,999.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,171 shares of the medical equipment provider’s stock after buying an additional 221,114 shares during the quarter. Pacer Advisors Inc. owned approximately 0.32% of Align Technology worth $29,072,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC lifted its holdings in shares of Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares during the period. True Wealth Design LLC raised its position in Align Technology by 7,650.0% during the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 153 shares during the last quarter. Cromwell Holdings LLC grew its position in shares of Align Technology by 2,900.0% in the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 174 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Align Technology during the second quarter worth about $36,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Align Technology during the second quarter worth about $38,000. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Up 0.3%

Shares of ALGN stock opened at $158.37 on Friday. The firm has a fifty day simple moving average of $146.25 and a two-hundred day simple moving average of $153.61. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $237.23. The firm has a market capitalization of $11.36 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.92 and a beta of 1.86.

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

Analyst Ratings Changes

ALGN has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, October 30th. Piper Sandler restated an “overweight” rating and issued a $200.00 target price (up previously from $190.00) on shares of Align Technology in a report on Thursday, October 30th. Wall Street Zen downgraded Align Technology from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Stifel Nicolaus set a $200.00 price objective on Align Technology in a research note on Thursday, October 30th. Finally, Evercore ISI lowered their target price on Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $172.18.

Align Technology Company Profile

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.