Amalgamated Bank Has $3.65 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Amalgamated Bank lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 4.2% during the second quarter, HoldingsChannel reports. The firm owned 15,110 shares of the medical equipment provider’s stock after selling 662 shares during the quarter. Amalgamated Bank’s holdings in Align Technology were worth $3,648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gryphon Financial Partners LLC grew its position in Align Technology by 31.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,396 shares of the medical equipment provider’s stock valued at $383,000 after acquiring an additional 330 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Align Technology by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 213,667 shares of the medical equipment provider’s stock worth $58,548,000 after purchasing an additional 7,266 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Align Technology by 4.5% in the 4th quarter. D.A. Davidson & CO. now owns 4,644 shares of the medical equipment provider’s stock valued at $1,272,000 after purchasing an additional 200 shares during the last quarter. SageView Advisory Group LLC boosted its position in Align Technology by 101.9% in the fourth quarter. SageView Advisory Group LLC now owns 1,393 shares of the medical equipment provider’s stock valued at $369,000 after buying an additional 703 shares in the last quarter. Finally, Team Hewins LLC bought a new stake in shares of Align Technology during the fourth quarter worth $203,000. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALGN. OTR Global reiterated a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Piper Sandler reissued an “overweight” rating and set a $315.00 price target on shares of Align Technology in a research note on Friday, September 13th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley cut their target price on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, Robert W. Baird decreased their price target on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $306.88.

Align Technology Stock Down 1.7 %

ALGN opened at $252.85 on Monday. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $335.40. The company has a fifty day moving average of $232.50 and a 200-day moving average of $264.34. The stock has a market cap of $19.04 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 5.13 and a beta of 1.64.

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

Insider Buying and Selling at Align Technology

In related news, Director C Raymond Larkin, Jr. acquired 6,500 shares of Align Technology stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the transaction, the director now directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.62% of the company’s stock.

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.