Park Avenue Securities LLC cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 2.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,552 shares of the medical equipment provider’s stock after selling 58 shares during the quarter. Park Avenue Securities LLC’s holdings in Align Technology were worth $616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Align Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock valued at $2,746,378,000 after purchasing an additional 25,362 shares during the period. Brown Advisory Inc. boosted its position in Align Technology by 41.4% during the 4th quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock valued at $413,488,000 after buying an additional 441,754 shares during the period. Bank of New York Mellon Corp grew its holdings in Align Technology by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,132,742 shares of the medical equipment provider’s stock worth $371,449,000 after acquiring an additional 11,800 shares during the last quarter. Bares Capital Management Inc. increased its position in shares of Align Technology by 44.4% in the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock valued at $268,871,000 after acquiring an additional 252,220 shares during the period. Finally, Norges Bank bought a new position in shares of Align Technology during the fourth quarter valued at about $223,610,000. 88.43% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
ALGN has been the topic of several recent analyst reports. Morgan Stanley cut their target price on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Stifel Nicolaus reduced their target price on Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. UBS Group raised their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Evercore ISI cut their price target on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. Finally, Piper Sandler decreased their price objective on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $322.78.
Get Our Latest Analysis on Align Technology
Align Technology Price Performance
Shares of NASDAQ ALGN opened at $214.92 on Friday. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $375.68. The firm has a 50-day moving average of $241.03 and a 200 day moving average of $276.98. The stock has a market cap of $16.18 billion, a P/E ratio of 35.41, a price-to-earnings-growth ratio of 5.18 and a beta of 1.66.
Align Technology (NASDAQ:ALGN – Get Free Report) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts expect that Align Technology, Inc. will post 7.64 earnings per share for the current fiscal year.
Align Technology Company 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.
Featured Articles
Receive News & Ratings for Align Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Align Technology and related companies with MarketBeat.com’s FREE daily email newsletter.
