FORA Capital LLC Makes New $590,000 Investment in Align Technology, Inc. (NASDAQ:ALGN)

FORA Capital LLC purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to its most recent filing with the SEC. The fund purchased 2,320 shares of the medical equipment provider’s stock, valued at approximately $590,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. increased its stake in Align Technology by 854.5% during the second 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 during the last quarter. Innealta Capital LLC bought a new stake in Align Technology in the 2nd quarter valued at about $26,000. Rothschild Investment LLC acquired a new position in Align Technology during the 2nd quarter valued at about $26,000. Versant Capital Management Inc increased its stake in shares of 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 bought a new stake in shares of Align Technology during the first quarter valued at approximately $29,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Up 0.8 %

Shares of Align Technology stock opened at $229.66 on Friday. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40. The firm has a market capitalization of $17.14 billion, a PE ratio of 39.19, a price-to-earnings-growth ratio of 6.23 and a beta of 1.65. The stock’s fifty day moving average is $226.83 and its 200-day moving average is $236.87.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALGN. Robert W. Baird decreased their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus lowered their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” 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 note on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley dropped their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Align Technology currently has a consensus rating of “Hold” and an average target price of $276.38.

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.