Brown Brothers Harriman & Co. reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 1.8% in the second quarter, HoldingsChannel.com reports. The firm owned 4,405 shares of the medical equipment provider’s stock after selling 83 shares during the period. Brown Brothers Harriman & Co.’s holdings in Align Technology were worth $1,063,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Align Technology in the first quarter worth $26,000. LRI Investments LLC bought a new stake in Align Technology during the 1st quarter valued at approximately $29,000. Cullen Frost Bankers Inc. grew its holdings 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 worth $25,000 after acquiring an additional 94 shares during the period. Rothschild Investment LLC purchased a new position in shares of Align Technology during the 2nd quarter worth approximately $26,000. Finally, Innealta Capital LLC bought a new position in shares of Align Technology in the 2nd quarter worth approximately $26,000. 88.43% of the stock is owned by institutional investors.
Insider Activity
In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 through this link. Insiders own 0.62% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on Align Technology
Align Technology Trading Up 1.4 %
NASDAQ:ALGN opened at $253.16 on Wednesday. The company has a market cap of $19.06 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 5.13 and a beta of 1.64. The company has a 50 day simple moving average of $232.21 and a two-hundred day simple moving average of $265.38. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $335.40.
Align Technology (NASDAQ:ALGN – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, beating 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 company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. Align Technology’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts forecast that Align Technology, Inc. will post 7.61 earnings per share for the current year.
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.
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