Align Technology, Inc. (NASDAQ:ALGN) Holdings Decreased by IFM Investors Pty Ltd

IFM Investors Pty Ltd lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 1.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,070 shares of the medical equipment provider’s stock after selling 293 shares during the quarter. IFM Investors Pty Ltd’s holdings in Align Technology were worth $3,833,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Align Technology by 12.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,294 shares of the medical equipment provider’s stock valued at $2,064,000 after acquiring an additional 697 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in shares of Align Technology during the 1st quarter valued at $306,000. Azzad Asset Management Inc. ADV raised its stake in shares of Align Technology by 9.2% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 13,622 shares of the medical equipment provider’s stock worth $4,467,000 after buying an additional 1,149 shares in the last quarter. Norden Group LLC lifted its holdings in shares of Align Technology by 3,647.7% in the first quarter. Norden Group LLC now owns 36,540 shares of the medical equipment provider’s stock valued at $11,982,000 after buying an additional 35,565 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its stake in Align Technology by 43.4% during the first quarter. First Trust Direct Indexing L.P. now owns 2,010 shares of the medical equipment provider’s stock valued at $659,000 after buying an additional 608 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Buying and Selling at Align Technology

In related news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

ALGN has been the topic of several research reports. Morgan Stanley dropped their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler dropped 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. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Stifel Nicolaus dropped their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Thursday. One research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $276.38.

Align Technology Trading Up 1.3 %

Shares of NASDAQ ALGN opened at $219.30 on Friday. Align Technology, Inc. has a one year low of $176.34 and a one year high of $335.40. The business has a 50-day moving average price of $233.41 and a two-hundred day moving average price of $250.02. The firm has a market capitalization of $16.51 billion, a PE ratio of 36.13, a PEG ratio of 5.33 and a beta of 1.64.

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

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.