ProShare Advisors LLC Raises Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

ProShare Advisors LLC raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,179 shares of the medical equipment provider’s stock after acquiring an additional 564 shares during the quarter. ProShare Advisors LLC’s holdings in Align Technology were worth $2,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Achmea Investment Management B.V. lifted its holdings in shares of Align Technology by 3.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock valued at $2,495,000 after acquiring an additional 339 shares during the last quarter. Tidal Investments LLC lifted its holdings in Align Technology by 122.9% during the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock valued at $1,445,000 after buying an additional 2,430 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Align Technology during the fourth quarter valued at approximately $1,197,000. Norden Group LLC lifted its holdings in shares of 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 worth $11,982,000 after buying an additional 35,565 shares during the period. Finally, Bares Capital Management Inc. lifted its stake in Align Technology by 22.6% in the fourth quarter. Bares Capital Management Inc. now owns 567,710 shares of the medical equipment provider’s stock worth $155,553,000 after acquiring an additional 104,799 shares during the period. Institutional investors own 88.43% of the company’s stock.

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 dated Thursday, August 15th. The shares were purchased at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares in the company, valued at approximately $6,647,366.51. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALGN. Evercore ISI dropped their target price 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. Stifel Nicolaus decreased their price target on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Piper Sandler reaffirmed an “overweight” rating and set a $315.00 target price on shares of Align Technology in a report on Friday, September 13th. Robert W. Baird decreased 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 report on Monday, July 22nd. Finally, StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.88.

Align Technology Trading Up 2.1 %

Shares of Align Technology stock opened at $254.81 on Friday. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $335.40. The firm’s 50-day moving average price is $232.61 and its 200 day moving average price is $263.24. The firm has a market capitalization of $19.03 billion, a PE ratio of 41.98, a P/E/G ratio of 5.77 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $1.73 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Align Technology, Inc. will post 7.61 EPS for the current fiscal 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.