Align Technology, Inc. $ALGN Stock Holdings Lifted by Tema Etfs LLC

Tema Etfs LLC grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 56.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,910 shares of the medical equipment provider’s stock after acquiring an additional 3,569 shares during the period. Tema Etfs LLC’s holdings in Align Technology were worth $1,241,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ALGN. Atria Investments Inc lifted its holdings in shares of Align Technology by 4.9% during the second quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock valued at $298,000 after purchasing an additional 74 shares during the last quarter. IFP Advisors Inc raised its holdings in Align Technology by 5.7% during the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock worth $270,000 after buying an additional 77 shares during the period. Rothschild Investment LLC lifted its stake in Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 87 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Align Technology by 42.2% during the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock valued at $59,000 after buying an additional 92 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of Align Technology by 0.3% in the second quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock worth $5,988,000 after buying an additional 93 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ALGN shares. Leerink Partners boosted their price target on shares of Align Technology from $172.00 to $189.00 in a report on Thursday, October 30th. Mizuho cut their target price on shares of Align Technology from $210.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, October 13th. HSBC increased their target price on Align Technology from $140.00 to $150.00 in a report on Friday, October 31st. Weiss Ratings downgraded Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Finally, Jefferies Financial Group increased their price objective on Align Technology from $140.00 to $155.00 in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $172.18.

Align Technology Stock Down 1.0%

Shares of NASDAQ:ALGN opened at $170.20 on Wednesday. The firm has a fifty day moving average of $152.96 and a two-hundred day moving average of $151.54. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $237.23. The firm has a market capitalization of $12.21 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 1.94 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.23. The business had revenue of $995.69 million during the quarter, compared to analyst estimates of $980.75 million. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.Align Technology’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $2.35 earnings per share. Equities research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.