Mutual of America Capital Management LLC Has $2.20 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Mutual of America Capital Management LLC decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,665 shares of the medical equipment provider’s stock after selling 185 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Align Technology were worth $2,204,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Cullen Frost Bankers Inc. raised its stake 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 worth $25,000 after purchasing an additional 94 shares in the last quarter. Innealta Capital LLC acquired a new stake in Align Technology in the 2nd quarter valued at about $26,000. Rothschild Investment LLC bought a new position in Align Technology during the second quarter worth about $26,000. Versant Capital Management Inc raised its stake in Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 93 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Align Technology in the first quarter valued at approximately $29,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 1.0 %

NASDAQ:ALGN opened at $225.89 on Monday. The firm has a market capitalization of $16.86 billion, a P/E ratio of 38.55, a P/E/G ratio of 5.91 and a beta of 1.65. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40. The company has a fifty day moving average of $228.54 and a 200-day moving average of $237.57.

Align Technology (NASDAQ:ALGN) last issued 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 for the quarter, compared to analyst estimates of $990.05 million. During the same period in the prior year, the firm earned $1.62 earnings per share. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ALGN shares. Robert W. Baird dropped their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Evercore ISI dropped their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Finally, Stifel Nicolaus decreased their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. One 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. Based on data from MarketBeat, Align Technology currently has an average rating of “Hold” and a consensus 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.