American Century Companies Inc. Has $20.41 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

American Century Companies Inc. decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 84,543 shares of the medical equipment provider’s stock after selling 4,246 shares during the period. American Century Companies Inc. owned approximately 0.11% of Align Technology worth $20,411,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI decreased their target price on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 10th. Robert W. Baird lowered their target price on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Morgan Stanley cut 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. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus cut their target price on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $306.88.

Insiders Place Their Bets

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the purchase, the director now directly owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.

Align Technology Price Performance

Shares of ALGN stock opened at $257.17 on Friday. The stock has a market capitalization of $19.36 billion, a PE ratio of 42.37, a PEG ratio of 5.13 and a beta of 1.64. The business’s 50 day simple moving average is $232.30 and its 200 day simple moving average is $265.24. Align Technology, Inc. has a one year low of $176.34 and a one year high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS 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 company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm posted $1.73 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts expect that Align Technology, Inc. will post 7.61 earnings per share for the current year.

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.