Intech Investment Management LLC Acquires 11,472 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Intech Investment Management LLC raised its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 1,057.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,557 shares of the medical equipment provider’s stock after acquiring an additional 11,472 shares during the period. Intech Investment Management LLC’s holdings in Align Technology were worth $3,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Moody National Bank Trust Division grew its position in shares of Align Technology by 1.8% in the 1st quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock valued at $691,000 after purchasing an additional 38 shares during the period. Mather Group LLC. boosted its holdings in shares of Align Technology by 52.5% in the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 42 shares during the period. Crewe Advisors LLC increased its position in shares of Align Technology by 36.8% during the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 46 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Align Technology by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock worth $2,143,000 after acquiring an additional 54 shares during the period. Finally, Czech National Bank lifted its position in Align Technology by 0.5% in the 1st quarter. Czech National Bank now owns 12,532 shares of the medical equipment provider’s stock valued at $4,109,000 after acquiring an additional 57 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Down 1.7 %

Shares of NASDAQ:ALGN opened at $252.85 on Monday. The business has a fifty day simple moving average of $232.50 and a 200 day simple moving average of $264.34. The firm has a market cap of $19.04 billion, a P/E ratio of 41.66, a P/E/G ratio of 5.13 and a beta of 1.64. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month 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 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company posted $1.73 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts expect that Align Technology, Inc. will post 7.61 EPS for the current year.

Wall Street Analyst Weigh In

ALGN has been the topic of several recent research reports. Evercore ISI dropped their price target on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 10th. Piper Sandler reissued an “overweight” rating and issued a $315.00 target price on shares of Align Technology in a research report on Friday, September 13th. Stifel Nicolaus reduced their price target on Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Morgan Stanley cut their price objective 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $306.88.

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is owned by insiders.

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.