Caisse DE Depot ET Placement DU Quebec Buys New Shares in Align Technology, Inc. (NASDAQ:ALGN)

Caisse DE Depot ET Placement DU Quebec purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,141 shares of the medical equipment provider’s stock, valued at approximately $1,562,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGN. Cetera Investment Advisers increased its holdings in Align Technology by 914.2% during the 1st quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock worth $4,140,000 after purchasing an additional 11,382 shares in the last quarter. Cetera Advisors LLC purchased a new position in Align Technology during the first quarter worth about $337,000. GAMMA Investing LLC increased its stake in 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 buying an additional 79 shares during the last quarter. Mather Group LLC. increased its stake in Align Technology by 52.5% in the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 42 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Align Technology by 10.9% during the 2nd quarter. CWM LLC now owns 4,218 shares of the medical equipment provider’s stock worth $1,018,000 after buying an additional 415 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALGN has been the subject of several recent analyst reports. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Stifel Nicolaus reduced their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Robert W. Baird lowered their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Evercore ISI reduced their price target on shares of 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 reaffirmed a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $276.38.

Align Technology Stock Down 0.1 %

NASDAQ ALGN opened at $234.01 on Wednesday. The firm has a market cap of $17.47 billion, a P/E ratio of 39.93, a price-to-earnings-growth ratio of 6.07 and a beta of 1.66. The company’s 50 day moving average is $225.75 and its 200-day moving average is $235.46. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40.

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

Align Technology Company 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.