Caxton Associates LP Takes $712,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Caxton Associates LP purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,948 shares of the medical equipment provider’s stock, valued at approximately $712,000.

Several other large investors have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Align Technology in the 2nd quarter valued at about $266,000. Point72 Hong Kong Ltd bought a new position in Align Technology in the 2nd quarter valued at about $3,893,000. Squarepoint Ops LLC raised its holdings in Align Technology by 673.8% in the 2nd quarter. Squarepoint Ops LLC now owns 100,066 shares of the medical equipment provider’s stock valued at $24,159,000 after acquiring an additional 87,134 shares during the period. Point72 Asset Management L.P. raised its holdings in Align Technology by 127.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 343,512 shares of the medical equipment provider’s stock valued at $82,934,000 after acquiring an additional 192,474 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Align Technology by 57.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,698 shares of the medical equipment provider’s stock worth $3,307,000 after purchasing an additional 5,011 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Align Technology

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the transaction, the director now directly owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.62% of the company’s stock.

Align Technology Trading Up 2.9 %

NASDAQ ALGN opened at $249.46 on Friday. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 41.10, a P/E/G ratio of 5.77 and a beta of 1.64. The firm’s 50 day simple moving average is $232.63 and its 200 day simple moving average is $263.34. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $335.40.

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

Analyst Ratings Changes

ALGN has been the topic of a number of analyst reports. OTR Global restated a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Stifel Nicolaus decreased their target price on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Morgan Stanley decreased their target price on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Robert W. Baird decreased 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 report on Monday, July 22nd. Finally, StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $306.88.

About Align Technology

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.