Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its position in Align Technology, Inc. (NASDAQ:ALGN) by 30.6% in the third quarter, HoldingsChannel.com reports. The firm owned 1,114 shares of the medical equipment provider’s stock after purchasing an additional 261 shares during the quarter. Bleakley Financial Group LLC’s holdings in Align Technology were worth $283,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALGN. Mather Group LLC. lifted its position in shares of Align Technology by 52.5% during the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 42 shares during the last quarter. Quarry LP lifted its position in shares of Align Technology by 53.0% during the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 44 shares during the last quarter. Crewe Advisors LLC lifted its position in shares of Align Technology by 36.8% during the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock valued at $41,000 after acquiring an additional 46 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Align Technology by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock valued at $2,143,000 after acquiring an additional 54 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Align Technology by 8.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 687 shares of the medical equipment provider’s stock valued at $166,000 after acquiring an additional 56 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus cut their price objective on Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, October 11th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Needham & Company LLC began coverage on shares of Align Technology in a research note on Thursday, October 10th. They set a “hold” rating on the stock. Robert W. Baird cut their target price on shares of 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, Evercore ISI cut their target price on shares of Align Technology from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $291.25.

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.62% of the stock is currently owned by company insiders.

Align Technology Trading Down 1.5 %

NASDAQ ALGN opened at $207.66 on Thursday. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $335.40. The company has a market capitalization of $15.63 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64. The firm’s fifty day simple moving average is $234.20 and its 200-day simple moving average is $250.96.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business posted $1.73 earnings per share. Align Technology’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts predict that Align Technology, Inc. will post 7.61 EPS for the current 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.