Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Fulcrum Capital LLC

Fulcrum Capital LLC lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,723 shares of the medical equipment provider’s stock after buying an additional 283 shares during the quarter. Fulcrum Capital LLC’s holdings in Align Technology were worth $2,218,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Mather Group LLC. boosted its stake in shares of Align Technology by 52.5% during the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 42 shares during the period. Quarry LP lifted its position in Align Technology by 53.0% in the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 44 shares during the period. Crewe Advisors LLC lifted its position in Align Technology by 36.8% in the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 46 shares during the period. Daiwa Securities Group Inc. lifted its position in Align Technology by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock valued at $2,143,000 after purchasing an additional 54 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Align Technology by 8.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 687 shares of the medical equipment provider’s stock valued at $166,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

ALGN has been the subject of a number of recent analyst reports. Robert W. Baird reduced their price objective on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Morgan Stanley reduced their price objective on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Piper Sandler reduced their price objective on shares of Align Technology from $315.00 to $285.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Evercore ISI reduced their price target on shares of Align Technology from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, Stifel Nicolaus reduced their price target on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $291.25.

Align Technology Price Performance

Shares of ALGN opened at $207.66 on Thursday. The firm has a 50 day simple moving average of $234.20 and a 200-day simple moving average of $250.96. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $335.40. The stock has a market cap of $15.63 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64.

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

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the purchase, the director now directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.62% of the company’s stock.

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.