Charles Schwab Investment Management Inc. Has $113.94 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Charles Schwab Investment Management Inc. grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 448,028 shares of the medical equipment provider’s stock after acquiring an additional 10,887 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Align Technology were worth $113,942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. grew its holdings 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 bought a new stake in shares of Align Technology during the second quarter worth $26,000. Rothschild Investment LLC acquired a new position in shares of Align Technology during the second quarter worth $26,000. Versant Capital Management Inc lifted its stake in shares of Align Technology by 547.1% in the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 93 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Align Technology during the 1st quarter valued at $29,000. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stifel Nicolaus lowered their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Robert W. Baird dropped their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Piper Sandler reduced their target price 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. Evercore ISI dropped 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 note on Thursday, October 24th. Finally, Morgan Stanley reduced their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $276.38.

Align Technology Stock Up 6.5 %

ALGN stock opened at $240.52 on Tuesday. The firm has a market cap of $17.95 billion, a price-to-earnings ratio of 41.04, a PEG ratio of 5.85 and a beta of 1.65. The company’s fifty day simple moving average is $228.36 and its 200 day simple moving average is $237.28. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $990.05 million. During the same period in the previous year, the business earned $1.62 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Research analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current year.

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.