Quantinno Capital Management LP Purchases 5,130 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Quantinno Capital Management LP increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 34.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,091 shares of the medical equipment provider’s stock after purchasing an additional 5,130 shares during the period. Quantinno Capital Management LP’s holdings in Align Technology were worth $5,110,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ALGN. Cullen Frost Bankers Inc. increased its position in shares of Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 94 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Align Technology in the second quarter valued at $26,000. Rothschild Investment LLC bought a new stake in shares of Align Technology in the 2nd quarter worth about $26,000. True Wealth Design LLC boosted its stake in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares during the period. Finally, Mather Group LLC. grew its holdings in Align Technology by 52.5% during the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 42 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

Shares of ALGN opened at $232.35 on Friday. The stock has a market capitalization of $17.34 billion, a PE ratio of 39.65, a PEG ratio of 6.10 and a beta of 1.66. The company has a 50 day moving average price of $224.73 and a 200-day moving average price of $234.96. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its earnings results 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 return on equity of 13.99% and a net margin of 11.15%. The company had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same quarter in the prior year, the business earned $1.62 earnings per share. Align Technology’s revenue was up 1.8% on a year-over-year basis. Equities research analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

Analysts Set New Price Targets

ALGN has been the subject of several recent analyst reports. Robert W. Baird dropped their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Mizuho began coverage on Align Technology in a research report on Wednesday. They issued an “outperform” rating and a $295.00 price objective on the stock. Stifel Nicolaus decreased their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Morgan Stanley cut their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Evercore ISI decreased their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $278.44.

Align Technology 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.