Valeo Financial Advisors LLC Increases Stake in Align Technology, Inc. (NASDAQ:ALGN)

Valeo Financial Advisors LLC increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 114.7% in the third quarter, Holdings Channel reports. The fund owned 2,679 shares of the medical equipment provider’s stock after purchasing an additional 1,431 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Align Technology were worth $681,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moody National Bank Trust Division raised its position in shares of Align Technology by 1.8% in the 1st quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock worth $691,000 after acquiring an additional 38 shares in the last quarter. Mather Group LLC. grew its position in Align Technology by 52.5% during the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 42 shares during the last quarter. Quarry LP grew its holdings in shares of Align Technology by 53.0% during the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 44 shares during the last quarter. Crewe Advisors LLC increased its holdings in Align Technology by 36.8% in the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 46 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of Align Technology by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock worth $2,143,000 after acquiring an additional 54 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Down 3.3 %

ALGN opened at $222.04 on Monday. The firm’s fifty day simple moving average is $233.68 and its two-hundred day simple moving average is $256.27. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $335.40. The company has a market cap of $16.59 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 5.33 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 earnings per share 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 firm 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 EPS. Align Technology’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Align Technology, Inc. will post 7.61 EPS for the current year.

Insider Transactions at Align Technology

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of Align Technology stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the purchase, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALGN shares. Evercore ISI decreased their price objective on Align Technology from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Robert W. Baird decreased their price target on 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 dropped their price objective on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley decreased their target price on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Needham & Company LLC assumed coverage on shares of Align Technology in a report on Thursday. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Align Technology currently has an average rating of “Hold” and an average price target of $295.00.

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.