Park Avenue Securities LLC Buys 88 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Park Avenue Securities LLC increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 3.4% during the third quarter, HoldingsChannel reports. The firm owned 2,640 shares of the medical equipment provider’s stock after acquiring an additional 88 shares during the period. Park Avenue Securities LLC’s holdings in Align Technology were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its holdings in shares of Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 94 shares during the period. Mather Group LLC. bought a new stake in Align Technology during the 1st quarter valued at $26,000. Innealta Capital LLC bought a new stake in Align Technology during the 2nd quarter valued at $26,000. Rothschild Investment LLC bought a new stake in Align Technology during the 2nd quarter valued at $26,000. Finally, Versant Capital Management Inc raised its holdings in Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 93 shares during the period. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI lowered their target price on shares of Align Technology from $280.00 to $270.00 and set an “outperform” rating on the stock in a report on Tuesday. Robert W. Baird lowered their target price on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Needham & Company LLC assumed coverage on shares of Align Technology in a report on Thursday. They issued a “hold” rating on the stock. Morgan Stanley decreased their price target on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $315.00 price target on shares of Align Technology in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $303.13.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $229.65 on Friday. The firm has a fifty day moving average of $233.48 and a 200 day moving average of $258.08. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $335.40. The firm has a market capitalization of $17.29 billion, a PE ratio of 37.83, a price-to-earnings-growth ratio of 5.77 and a beta of 1.64.

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, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts forecast 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. purchased 6,500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost 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 in the company, valued at approximately $6,647,366.51. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company 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.