Monday, July 15, 2024

Jennison Associates LLC Grows Holdings in Align Technology, Inc. (NASDAQ:ALGN)

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Jennison Associates LLC grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) by 14.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,300 shares of the medical equipment provider’s stock after acquiring an additional 12,601 shares during the quarter. Jennison Associates LLC owned about 0.13% of Align Technology worth $32,890,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mather Group LLC. acquired a new position in shares of Align Technology during the 1st quarter valued at about $26,000. Lindbrook Capital LLC increased its stake in shares of Align Technology by 47.2% during the 1st quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 60 shares during the last quarter. Venturi Wealth Management LLC increased its position in Align Technology by 97.2% during the 4th quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock worth $77,000 after purchasing an additional 138 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in Align Technology during the 4th quarter worth approximately $86,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Align Technology by 61.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 328 shares of the medical equipment provider’s stock worth $90,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALGN. Stifel Nicolaus increased their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley increased their price objective on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Evercore ISI lowered their price objective on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. Piper Sandler reduced their target price on Align Technology from $375.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Finally, Robert W. Baird increased their target price on Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. One equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $346.50.

Get Our Latest Analysis on ALGN

Align Technology Stock Performance

Shares of ALGN opened at $247.48 on Wednesday. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 40.77, a price-to-earnings-growth ratio of 4.51 and a beta of 1.66. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The stock’s fifty day moving average is $258.13 and its 200-day moving average is $283.05.

Align Technology (NASDAQ:ALGNGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The company had revenue of $997.43 million for the quarter, compared to analyst estimates of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. Analysts forecast that Align Technology, Inc. will post 7.86 EPS for the current fiscal year.

Align Technology 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.

See Also

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



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