5,340 Shares in Align Technology, Inc. (NASDAQ:ALGN) Purchased by MBB Public Markets I LLC

MBB Public Markets I LLC acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,340 shares of the medical equipment provider’s stock, valued at approximately $1,289,000.

Several other large investors have also bought and sold shares of ALGN. Vanguard Group Inc. grew its position in shares of 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 worth $2,746,378,000 after buying an additional 25,362 shares during the period. Bank of New York Mellon Corp grew its holdings 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 worth $277,230,000 after purchasing an additional 15,540 shares during the period. Ninety One UK Ltd increased its stake in shares of 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 valued at $276,950,000 after purchasing an additional 10,919 shares in the last quarter. Bares Capital Management Inc. lifted its holdings in shares of 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 valued at $268,871,000 after purchasing an additional 252,220 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Align Technology by 4,391.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock valued at $117,879,000 after purchasing an additional 477,380 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on ALGN shares. Stifel Nicolaus reduced their price objective on Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Evercore ISI dropped 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 note on Monday, June 10th. Piper Sandler restated an “overweight” rating and set a $315.00 price objective on shares of Align Technology in a research note on Friday, September 13th. Finally, Robert W. Baird decreased their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Align Technology has an average rating of “Moderate Buy” and an average target price of $306.88.

Align Technology Stock Down 0.2 %

Shares of Align Technology stock opened at $254.32 on Tuesday. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $335.40. The company has a market cap of $19.15 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 5.77 and a beta of 1.64. The company’s 50 day moving average is $232.77 and its 200 day moving average is $261.68.

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

Insider Buying and Selling at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares in the company, valued at approximately $6,647,366.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

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.