Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,632 shares of the medical equipment provider’s stock after purchasing an additional 65 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Align Technology were worth $2,425,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. True Wealth Design LLC raised its stake in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Align Technology in the 2nd quarter valued at $31,000. Quarry LP increased its holdings in Align Technology by 53.0% in the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 44 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Align Technology during the third quarter valued at $32,000. Finally, CVA Family Office LLC grew its position in shares of Align Technology by 85.2% in the third quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 0.4 %

Align Technology stock traded down $0.96 during midday trading on Thursday, reaching $214.82. The company’s stock had a trading volume of 32,073 shares, compared to its average volume of 541,578. The business has a 50-day simple moving average of $222.28 and a 200-day simple moving average of $228.53. The company has a market cap of $16.04 billion, a P/E ratio of 36.66, a P/E/G ratio of 4.64 and a beta of 1.67. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 earnings per share. As a group, equities analysts forecast that Align Technology, Inc. will post 7.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Stifel Nicolaus decreased their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Morgan Stanley cut their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Piper Sandler reduced their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Robert W. Baird reduced their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.20.

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.