Nisa Investment Advisors LLC Has $5.15 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Nisa Investment Advisors LLC trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,257 shares of the medical equipment provider’s stock after selling 578 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Align Technology were worth $5,152,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALGN. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Align Technology by 4,391.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock worth $117,879,000 after acquiring an additional 477,380 shares in the last quarter. Swedbank AB acquired a new position in Align Technology during the first quarter valued at approximately $96,117,000. Bares Capital Management Inc. raised its position in shares of Align Technology by 44.4% in the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock valued at $268,871,000 after purchasing an additional 252,220 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Align Technology by 127.4% in the second quarter. Point72 Asset Management L.P. now owns 343,512 shares of the medical equipment provider’s stock worth $82,934,000 after buying an additional 192,474 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Align Technology by 371.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 218,779 shares of the medical equipment provider’s stock worth $71,742,000 after buying an additional 172,330 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on ALGN shares. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, October 24th. Piper Sandler lowered their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Robert W. Baird cut their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Morgan Stanley lowered their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Align Technology has an average rating of “Hold” and a consensus price target of $276.38.

Align Technology Stock Performance

Shares of ALGN stock opened at $205.03 on Friday. The firm has a fifty day moving average of $231.55 and a 200-day moving average of $246.87. The stock has a market cap of $15.32 billion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a 52-week low of $178.52 and a 52-week high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share. On average, sell-side analysts predict that Align Technology, Inc. will post 7.61 earnings per share for the current year.

Insider Activity at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the company’s 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 acquisition, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is available through this link. 0.62% of the stock is owned by insiders.

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.