Marathon Asset Management Ltd Boosts Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Marathon Asset Management Ltd grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.8% in the third quarter, Holdings Channel reports. The institutional investor owned 154,869 shares of the medical equipment provider’s stock after buying an additional 2,776 shares during the period. Marathon Asset Management Ltd’s holdings in Align Technology were worth $39,387,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Mather Group LLC. acquired a new position in shares of Align Technology during the 1st quarter worth $26,000. LRI Investments LLC acquired a new position in shares of Align Technology in the 1st quarter valued at approximately $29,000. Cullen Frost Bankers Inc. raised its stake in shares of Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 94 shares in the last quarter. Rothschild Investment LLC bought a new position in Align Technology during the second quarter worth $26,000. Finally, Innealta Capital LLC bought a new position in shares of Align Technology in the 2nd quarter worth about $26,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the acquisition, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is owned by corporate insiders.

Align Technology Stock Performance

Shares of ALGN stock opened at $216.02 on Friday. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $335.40. The company has a market capitalization of $16.26 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 5.33 and a beta of 1.64. The company has a 50-day simple moving average of $234.48 and a 200 day simple moving average of $254.22.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $1.73 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that Align Technology, Inc. will post 7.61 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ALGN. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Stifel Nicolaus cut their price objective on Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a report on Friday, October 11th. Robert W. Baird decreased their price target on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Needham & Company LLC assumed coverage on Align Technology in a research note on Thursday, October 10th. They set a “hold” rating for the company. Finally, Morgan Stanley reduced their price objective on Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $291.25.

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.