HBK Sorce Advisory LLC Has $363,000 Holdings in Align Technology, Inc. (NASDAQ:ALGN)

HBK Sorce Advisory LLC trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 4.9% in the second quarter, Holdings Channel reports. The institutional investor owned 1,505 shares of the medical equipment provider’s stock after selling 78 shares during the period. HBK Sorce Advisory LLC’s holdings in Align Technology were worth $363,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Align Technology by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock valued at $2,746,378,000 after acquiring an additional 25,362 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Align Technology by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock valued at $277,230,000 after purchasing an additional 15,540 shares in the last quarter. Ninety One UK Ltd lifted its position in Align Technology by 1.0% during the second quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after purchasing an additional 10,919 shares during the period. Bares Capital Management Inc. grew its stake in Align Technology by 44.4% during the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after buying an additional 252,220 shares in the last quarter. Finally, Norges Bank bought a new position in Align Technology in the 4th quarter valued at about $223,610,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Trading Up 6.5 %

Align Technology stock opened at $243.73 on Friday. The company has a market capitalization of $18.21 billion, a PE ratio of 40.15, a P/E/G ratio of 5.13 and a beta of 1.64. The stock has a 50-day moving average price of $232.08 and a two-hundred day moving average price of $266.34. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $335.73.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) 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 analyst estimates of $1.04 billion. During the same quarter last year, the business earned $1.73 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts predict that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

Insider Transactions at Align Technology

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the transaction, the director now directly owns 28,247 shares in the company, valued at $6,647,366.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Evercore ISI reduced their price target on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $315.00 target price on shares of Align Technology in a report on Friday. StockNews.com cut Align Technology from a “buy” rating to a “hold” rating in a report on Sunday, September 1st. Robert W. Baird reduced 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. Finally, Stifel Nicolaus lowered their target price on Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Align Technology currently 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.