Diversified Trust Co Boosts Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Diversified Trust Co increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 34.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,331 shares of the medical equipment provider’s stock after acquiring an additional 845 shares during the quarter. Diversified Trust Co’s holdings in Align Technology were worth $804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mather Group LLC. acquired a new position in Align Technology during the first quarter worth about $26,000. LRI Investments LLC acquired a new position in Align Technology during the first quarter worth about $29,000. Versant Capital Management Inc boosted its position in Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 93 shares during the last quarter. Crewe Advisors LLC acquired a new position in Align Technology during the first quarter worth about $41,000. Finally, Trust Co. of Vermont acquired a new position in Align Technology during the second quarter worth about $39,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ALGN shares. Stifel Nicolaus lowered their price target on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Evercore ISI decreased their target price on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. OTR Global reiterated a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, Robert W. Baird decreased their target price on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.78.

Align Technology Stock Performance

Shares of Align Technology stock traded up $5.20 on Wednesday, reaching $225.03. The company had a trading volume of 49,995 shares, compared to its average volume of 787,638. The firm’s 50 day moving average price is $239.62 and its two-hundred day moving average price is $276.47. The firm has a market cap of $16.94 billion, a PE ratio of 37.12, a PEG ratio of 5.18 and a beta of 1.66. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $375.68.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. As a group, sell-side analysts predict that Align Technology, Inc. will post 7.64 EPS for the current year.

About Align Technology

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.