Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Achmea Investment Management B.V.

Achmea Investment Management B.V. increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 10,335 shares of the medical equipment provider’s stock after acquiring an additional 339 shares during the quarter. Achmea Investment Management B.V.’s holdings in Align Technology were worth $2,495,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Parnassus Investments LLC raised its holdings in shares of Align Technology by 11.3% during the 4th quarter. Parnassus Investments LLC now owns 396,603 shares of the medical equipment provider’s stock worth $108,669,000 after acquiring an additional 40,406 shares during the period. Tidal Investments LLC raised its stake in Align Technology by 122.9% during the first quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock worth $1,445,000 after purchasing an additional 2,430 shares during the period. Nomura Holdings Inc. purchased a new position in Align Technology during the fourth quarter worth about $1,197,000. Norden Group LLC boosted its holdings in Align Technology by 3,647.7% in the 1st quarter. Norden Group LLC now owns 36,540 shares of the medical equipment provider’s stock valued at $11,982,000 after purchasing an additional 35,565 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Align Technology by 22.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 127,657 shares of the medical equipment provider’s stock valued at $34,978,000 after buying an additional 23,676 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

ALGN has been the topic of a number of recent analyst reports. Stifel Nicolaus decreased their price objective on Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Morgan Stanley decreased their price target on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Evercore ISI cut their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. Piper Sandler restated an “overweight” rating and issued a $315.00 price objective on shares of Align Technology in a report on Friday. Finally, Robert W. Baird lowered their target price on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $306.88.

Align Technology Price Performance

NASDAQ ALGN opened at $243.73 on Friday. The company has a market cap of $18.21 billion, a P/E ratio of 40.15, a P/E/G ratio of 5.13 and a beta of 1.64. The stock has a 50-day moving average of $232.08 and a two-hundred day moving average of $266.66. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $335.73.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business posted $1.73 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Align Technology, Inc. will post 7.61 EPS for the current fiscal 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.