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Van ECK Associates Corp Raises Stake in Align Technology, Inc. (NASDAQ:ALGN)

Van ECK Associates Corp raised its position in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) by 20.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,241 shares of the medical equipment provider’s stock after purchasing an additional 1,372 shares during the quarter. Van ECK Associates Corp’s holdings in Align Technology were worth $2,702,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ALGN. Schonfeld Strategic Advisors LLC lifted its holdings in Align Technology by 232.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 2,800 shares of the medical equipment provider’s stock valued at $855,000 after purchasing an additional 1,957 shares in the last quarter. Lido Advisors LLC lifted its holdings in Align Technology by 19.7% during the third quarter. Lido Advisors LLC now owns 1,662 shares of the medical equipment provider’s stock valued at $507,000 after purchasing an additional 273 shares in the last quarter. Scotia Capital Inc. purchased a new position in Align Technology during the third quarter valued at approximately $1,285,000. Royal London Asset Management Ltd. lifted its holdings in Align Technology by 5.5% during the third quarter. Royal London Asset Management Ltd. now owns 32,460 shares of the medical equipment provider’s stock valued at $9,910,000 after purchasing an additional 1,699 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Align Technology by 4.4% in the third quarter. Royal Bank of Canada now owns 293,082 shares of the medical equipment provider’s stock worth $89,481,000 after buying an additional 12,405 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Up 0.1 %

ALGN stock opened at $243.60 on Friday. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20. The stock has a market capitalization of $18.34 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 4.51 and a beta of 1.66. The firm’s fifty day simple moving average is $259.94 and its two-hundred day simple moving average is $283.25.

Align Technology (NASDAQ:ALGNGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The business had revenue of $997.43 million for the quarter, compared to analysts’ expectations of $971.97 million. As a group, equities research analysts expect that Align Technology, Inc. will post 7.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALGN shares. Robert W. Baird boosted their target price on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Stifel Nicolaus boosted their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley boosted their target price on shares of Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. OTR Global reissued a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, UBS Group boosted their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $346.50.

Get Our Latest Stock Analysis on Align Technology

Align Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)



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