Toronto Dominion Bank Sells 4,441 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Toronto Dominion Bank reduced its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 10.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,642 shares of the medical equipment provider’s stock after selling 4,441 shares during the quarter. Toronto Dominion Bank’s holdings in Align Technology were worth $8,846,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its position 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 valued at $25,000 after acquiring an additional 94 shares during the period. Mather Group LLC. bought a new position in shares of Align Technology during the 1st quarter worth about $26,000. Innealta Capital LLC acquired a new stake in shares of Align Technology in the 2nd quarter valued at about $26,000. Rothschild Investment LLC bought a new stake in Align Technology in the 2nd quarter valued at about $26,000. Finally, Versant Capital Management Inc raised its stake in Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 93 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now owns 28,247 shares in the company, valued at $6,647,366.51. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on ALGN shares. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Morgan Stanley lowered their price objective on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Robert W. Baird reduced their price objective on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Stifel Nicolaus lowered their target price on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $306.88.

Align Technology Stock Performance

Shares of ALGN stock opened at $254.81 on Friday. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $335.40. The company has a 50-day simple moving average of $232.67 and a two-hundred day simple moving average of $262.87. The company has a market capitalization of $19.03 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 5.77 and a beta of 1.64.

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