Toronto Dominion Bank Has $6.26 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Toronto Dominion Bank lowered its position in Align Technology, Inc. (NASDAQ:ALGN) by 32.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,626 shares of the medical equipment provider’s stock after selling 12,016 shares during the period. Toronto Dominion Bank’s holdings in Align Technology were worth $6,263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGN. Cullen Frost Bankers Inc. increased 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 during the last quarter. Innealta Capital LLC bought a new stake in Align Technology in the second quarter worth $26,000. Rothschild Investment LLC acquired a new position in Align Technology during the second quarter worth $26,000. True Wealth Design LLC raised its holdings in Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 107 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Align Technology in the second quarter worth about $31,000. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALGN. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Piper Sandler dropped their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Morgan Stanley decreased their price objective 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. Robert W. Baird dropped their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $271.20.

Align Technology Stock Down 0.1 %

Shares of ALGN opened at $235.39 on Friday. The stock’s 50-day moving average price is $224.11 and its 200 day moving average price is $234.30. The firm has a market capitalization of $17.57 billion, a price-to-earnings ratio of 40.17, a P/E/G ratio of 6.20 and a beta of 1.66. 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 for the quarter, topping the consensus estimate of $2.31 by $0.04. The company had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 EPS. Equities research analysts expect that Align Technology, Inc. will post 7.45 EPS 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.