Fulcrum Asset Management LLP Buys 70,630 Shares of Align Technology, Inc. $ALGN

Fulcrum Asset Management LLP purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to its most recent filing with the SEC. The fund purchased 70,630 shares of the medical equipment provider’s stock, valued at approximately $9,493,000.

Several other hedge funds have also bought and sold shares of ALGN. BlackRock Inc. bought a new position in shares of Align Technology during the 2nd quarter valued at about $745,370,000. Assenagon Asset Management S.A. grew its position in shares of Align Technology by 638.7% during the third quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock valued at $629,469,000 after purchasing an additional 4,031,284 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Align Technology by 3,162.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,097,745 shares of the medical equipment provider’s stock worth $278,342,000 after purchasing an additional 2,033,451 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Align Technology by 69,628.9% in the third quarter. Vontobel Holding Ltd. now owns 1,385,513 shares of the medical equipment provider’s stock worth $183,335,000 after purchasing an additional 1,383,526 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Align Technology in the second quarter worth about $99,779,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $166.00 on Monday. Align Technology, Inc. has a 52 week low of $130.23 and a 52 week high of $200.43. The stock has a market capitalization of $11.89 billion, a P/E ratio of 24.16, a PEG ratio of 1.80 and a beta of 1.74. The firm has a fifty day simple moving average of $150.38 and a two-hundred day simple moving average of $168.50.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 28th. The medical equipment provider reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.03. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Align Technology had a net margin of 11.83% and a return on equity of 15.96%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.61 EPS. On average, analysts expect that Align Technology, Inc. will post 9.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALGN. Raymond James Financial reissued a “buy” rating on shares of Align Technology in a research note on Monday, October 5th. Zacks Research downgraded Align Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Stifel Nicolaus reduced their price objective on Align Technology from $210.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Mizuho decreased their price objective on Align Technology from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Finally, Leerink Partners lowered their target price on Align Technology from $235.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $193.08.

Align Technology Company Profile

Align Technology, Inc develops, manufactures and markets digital orthodontic and restorative dentistry products. Its best-known offering is the Invisalign system, which uses a series of custom-made clear aligners to straighten teeth. The company also sells Vivera retainers and iTero intraoral scanners, which support digital dental imaging and treatment planning.

Founded in 1997, Align helped popularize clear-aligner orthodontic treatment as an alternative to traditional braces. Its digital dentistry portfolio also includes exocad software, used by dental professionals and laboratories to design dental restorations.

Headquartered in Tempe, Arizona, Align serves dental professionals and patients in markets around the world.