Stephens Inc. AR Lowers Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Stephens Inc. AR trimmed its position in Align Technology, Inc. (NASDAQ:ALGN) by 10.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,342 shares of the medical equipment provider’s stock after selling 390 shares during the quarter. Stephens Inc. AR’s holdings in Align Technology were worth $850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Align Technology by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock worth $2,746,378,000 after purchasing an additional 25,362 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Align Technology by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock worth $277,230,000 after buying an additional 15,540 shares during the period. Ninety One UK Ltd increased its stake in Align Technology by 1.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after buying an additional 10,919 shares in the last quarter. Bares Capital Management Inc. raised its holdings in Align Technology by 44.4% during 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 acquiring an additional 252,220 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of Align Technology by 0.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock valued at $170,822,000 after acquiring an additional 3,600 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Insider Buying and Selling at Align Technology

In other news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the acquisition, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.62% of the company’s stock.

Align Technology Trading Up 0.6 %

Shares of NASDAQ:ALGN opened at $212.15 on Wednesday. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 4.93 and a beta of 1.65. Align Technology, Inc. has a 12 month low of $186.01 and a 12 month high of $335.40. The company has a 50-day moving average price of $230.15 and a 200 day moving average price of $244.16.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. The business had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. As a group, equities analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALGN. Morgan Stanley cut their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Evercore ISI cut their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Piper Sandler lowered their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Monday. Finally, StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Align Technology has a consensus rating of “Hold” and a consensus price target of $276.38.

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.