Fisher Asset Management LLC Purchases 2,717 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Fisher Asset Management LLC increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,770 shares of the medical equipment provider’s stock after acquiring an additional 2,717 shares during the quarter. Fisher Asset Management LLC owned about 0.14% of Align Technology worth $26,900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ALGN. Bank of New York Mellon Corp increased its position in shares of Align Technology by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock worth $277,230,000 after purchasing an additional 15,540 shares in the last quarter. Ninety One UK Ltd grew its stake in Align Technology by 1.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after buying an additional 10,919 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in Align Technology by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock valued at $170,822,000 after buying an additional 3,600 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Align Technology by 4,391.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock valued at $117,879,000 after buying an additional 477,380 shares during the last quarter. Finally, Senvest Management LLC boosted its holdings in Align Technology by 76.4% in the third quarter. Senvest Management LLC now owns 459,243 shares of the medical equipment provider’s stock worth $116,795,000 after acquiring an additional 198,893 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

NASDAQ:ALGN opened at $227.93 on Wednesday. The company has a 50 day moving average price of $227.85 and a 200-day moving average price of $236.98. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The firm has a market cap of $17.01 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 5.85 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the prior year, the firm posted $1.62 earnings per share. The company’s revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALGN. Stifel Nicolaus lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Morgan Stanley reduced their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Robert W. Baird dropped their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Evercore ISI reduced their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $276.38.

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.