Andra AP fonden Purchases 9,900 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Andra AP fonden lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 137.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,100 shares of the medical equipment provider’s stock after acquiring an additional 9,900 shares during the quarter. Andra AP fonden’s holdings in Align Technology were worth $4,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALGN. Gryphon Financial Partners LLC raised its position in shares of Align Technology by 31.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,396 shares of the medical equipment provider’s stock worth $383,000 after acquiring an additional 330 shares during the last quarter. Principal Securities Inc. bought a new stake in Align Technology in the fourth quarter valued at about $199,000. QRG Capital Management Inc. increased its holdings in Align Technology by 5.0% in the fourth quarter. QRG Capital Management Inc. now owns 3,248 shares of the medical equipment provider’s stock valued at $890,000 after purchasing an additional 156 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Align Technology by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 213,667 shares of the medical equipment provider’s stock valued at $58,548,000 after purchasing an additional 7,266 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Align Technology by 3.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,271 shares of the medical equipment provider’s stock valued at $1,992,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Insider Transactions at Align Technology

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of Align Technology stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now directly owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is owned by insiders.

Align Technology Trading Down 0.9 %

NASDAQ:ALGN opened at $225.15 on Thursday. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $335.73. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 5.04 and a beta of 1.64. The stock has a 50-day moving average price of $232.37 and a two-hundred day moving average price of $267.39.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. Align Technology’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share. Sell-side analysts forecast that Align Technology, Inc. will post 7.61 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on ALGN shares. OTR Global reiterated a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Stifel Nicolaus dropped their price objective on Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 25th. StockNews.com downgraded Align Technology from a “buy” rating to a “hold” rating in a report on Sunday, September 1st. Evercore ISI dropped their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 10th. Finally, Morgan Stanley dropped their price objective on Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $306.88.

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.