Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Disciplined Growth Investors Inc. MN

Disciplined Growth Investors Inc. MN boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 707,542 shares of the medical equipment provider’s stock after purchasing an additional 3,600 shares during the quarter. Align Technology comprises about 3.2% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 8th largest holding. Disciplined Growth Investors Inc. MN owned about 0.94% of Align Technology worth $170,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Gryphon Financial Partners LLC raised its position in shares of Align Technology by 31.0% in the 4th 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 period. Treasurer of the State of North Carolina raised its holdings in Align Technology by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 34,780 shares of the medical equipment provider’s stock worth $9,530,000 after purchasing an additional 330 shares during the period. Evoke Wealth LLC bought a new position in shares of Align Technology during the fourth quarter worth $1,362,000. Bank of Nova Scotia grew its holdings in shares of Align Technology by 30.1% in the 4th quarter. Bank of Nova Scotia now owns 7,115 shares of the medical equipment provider’s stock valued at $1,949,000 after buying an additional 1,646 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of Align Technology by 21.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,584 shares of the medical equipment provider’s stock valued at $708,000 after buying an additional 452 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Activity at Align Technology

In related news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased 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 of the company’s stock, valued at $6,647,366.51. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Stifel Nicolaus cut their price objective on Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. OTR Global reiterated a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Morgan Stanley dropped their target price on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Evercore ISI reduced their price target on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 10th. One equities 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 company. According to MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and a consensus target price of $306.88.

Align Technology Stock Up 2.1 %

NASDAQ ALGN opened at $254.81 on Friday. The firm’s 50 day moving average is $232.67 and its 200-day moving average is $262.53. The company has a market capitalization of $19.18 billion, a PE ratio of 41.98, a price-to-earnings-growth ratio of 5.77 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 issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm posted $1.73 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.61 EPS 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.