ArrowMark Colorado Holdings LLC Has $27.87 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

ArrowMark Colorado Holdings LLC trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.1% in the third quarter, Holdings Channel.com reports. The fund owned 109,586 shares of the medical equipment provider’s stock after selling 3,511 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Align Technology were worth $27,870,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Tidal Investments LLC boosted its holdings in Align Technology by 122.9% during the first quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock valued at $1,445,000 after purchasing an additional 2,430 shares in the last quarter. Cetera Investment Advisers raised its stake in Align Technology by 914.2% during the first quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock worth $4,140,000 after acquiring an additional 11,382 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of Align Technology during the first quarter valued at $337,000. GAMMA Investing LLC boosted its stake in shares of Align Technology by 11.2% in the 2nd quarter. GAMMA Investing LLC now owns 785 shares of the medical equipment provider’s stock valued at $190,000 after purchasing an additional 79 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Align Technology by 547.1% in the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 93 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Up 1.4 %

Align Technology stock opened at $232.77 on Monday. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40. The business’s 50-day simple moving average is $226.43 and its 200 day simple moving average is $236.00. The stock has a market cap of $17.38 billion, a price-to-earnings ratio of 39.72, a P/E/G ratio of 6.03 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same period last year, the firm posted $1.62 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.45 EPS for the current year.

Analysts Set New Price Targets

ALGN has been the subject of several analyst reports. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Piper Sandler cut their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Robert W. Baird decreased their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Evercore ISI cut their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $276.38.

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.