Brooklyn Investment Group Takes $77,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Brooklyn Investment Group purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 302 shares of the medical equipment provider’s stock, valued at approximately $77,000.

Several other institutional investors have also recently made changes to their positions in ALGN. Cullen Frost Bankers Inc. raised its position in shares of Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 94 shares during the period. Innealta Capital LLC purchased a new stake in Align Technology in the second quarter valued at approximately $26,000. Rothschild Investment LLC purchased a new stake in Align Technology in the second quarter valued at approximately $26,000. Versant Capital Management Inc raised its position in Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 93 shares during the period. Finally, LRI Investments LLC purchased a new stake in Align Technology in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 0.8 %

Shares of ALGN stock opened at $229.66 on Friday. The firm has a fifty day moving average price of $226.83 and a 200 day moving average price of $236.87. The company has a market cap of $17.14 billion, a P/E ratio of 39.19, a PEG ratio of 6.23 and a beta of 1.65. 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 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 earnings per share. On average, equities analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Robert W. Baird cut their target price 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. Piper Sandler cut their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus cut their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Evercore ISI dropped 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 note on Thursday, October 24th. Finally, Morgan Stanley dropped their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $276.38.

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.