Dimensional Fund Advisors LP Has $63.87 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Dimensional Fund Advisors LP raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 13.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 264,524 shares of the medical equipment provider’s stock after purchasing an additional 31,948 shares during the period. Dimensional Fund Advisors LP’s holdings in Align Technology were worth $63,873,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of ALGN. Cullen Frost Bankers Inc. raised its holdings in Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 94 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Align Technology during the 1st quarter worth approximately $26,000. Innealta Capital LLC bought a new position in shares of Align Technology during the 2nd quarter worth $26,000. Rothschild Investment LLC purchased a new stake in shares of Align Technology during the 2nd quarter valued at approximately $26,000. Finally, Versant Capital Management Inc grew its position in shares of Align Technology by 547.1% in the second 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 in the last quarter. Institutional investors own 88.43% of the company’s stock.

Insider Activity at Align Technology

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the transaction, the director now owns 28,247 shares in the company, valued at $6,647,366.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ALGN has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $315.00 price target on shares of Align Technology in a research report on Friday, September 13th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Robert W. Baird lowered their price target on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Evercore ISI cut their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Finally, Stifel Nicolaus cut their price objective on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average price target of $306.88.

Align Technology Trading Up 2.1 %

Shares of ALGN stock opened at $254.81 on Friday. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $335.40. The stock has a market capitalization of $19.03 billion, a P/E ratio of 41.98, a P/E/G ratio of 5.77 and a beta of 1.64. The firm’s 50 day moving average is $232.61 and its 200 day moving average is $263.24.

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 the consensus estimate of $2.32 by $0.09. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 EPS. As a group, equities analysts predict that Align Technology, Inc. will post 7.61 earnings per share 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.