Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 9.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 342,377 shares of the medical equipment provider’s stock after acquiring an additional 28,924 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Align Technology were worth $87,074,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its stake in shares of Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 94 shares during the period. Innealta Capital LLC purchased a new stake in Align Technology in the 2nd quarter valued at approximately $26,000. Rothschild Investment LLC acquired a new position in Align Technology during the 2nd quarter worth approximately $26,000. Versant Capital Management Inc raised its stake in shares of Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 93 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Align Technology in the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN stock opened at $223.69 on Monday. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The firm has a market capitalization of $16.70 billion, a PE ratio of 38.17, a P/E/G ratio of 5.79 and a beta of 1.65. The company’s 50 day simple moving average is $228.85 and its 200-day simple moving average is $239.62.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $990.05 million. During the same quarter last year, the business posted $1.62 earnings per share. Align Technology’s revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALGN. Evercore ISI dropped their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a 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 for the company in a report on Thursday, October 24th. Piper Sandler decreased their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $276.38.

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.