Quest Partners LLC Purchases 4,057 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Quest Partners LLC lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 893.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,511 shares of the medical equipment provider’s stock after purchasing an additional 4,057 shares during the period. Quest Partners LLC’s holdings in Align Technology were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Align Technology by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock worth $2,746,378,000 after acquiring an additional 25,362 shares during the period. Brown Advisory Inc. increased its stake 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 worth $413,488,000 after acquiring an additional 441,754 shares during the period. Bank of New York Mellon Corp increased its stake in Align Technology by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock worth $277,230,000 after acquiring an additional 15,540 shares during the period. Ninety One UK Ltd increased its stake in Align Technology by 1.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after acquiring an additional 10,919 shares during the period. Finally, Bares Capital Management Inc. increased its stake in Align Technology by 44.4% during the 1st quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after acquiring an additional 252,220 shares during the period. Institutional investors own 88.43% of the company’s stock.

Insider Activity at Align Technology

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the acquisition, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.62% of the stock is currently owned by company insiders.

Align Technology Stock Up 2.6 %

NASDAQ ALGN opened at $227.15 on Wednesday. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $336.11. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 37.42, a price-to-earnings-growth ratio of 5.04 and a beta of 1.64. The business’s fifty day moving average is $232.73 and its 200 day moving average is $267.69.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $1.73 EPS. Align Technology’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts anticipate that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on ALGN shares. Robert W. Baird lowered their price objective on Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Evercore ISI reduced their target price on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Piper Sandler reduced their target price on Align Technology from $330.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Morgan Stanley reduced their target price on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology currently has a consensus rating of “Hold” and an average target price of $306.88.

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.