Czech National Bank Acquires 961 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Czech National Bank raised its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 7.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,303 shares of the medical equipment provider’s stock after buying an additional 961 shares during the quarter. Czech National Bank’s holdings in Align Technology were worth $3,638,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Align Technology by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock worth $2,746,378,000 after acquiring an additional 25,362 shares during the last quarter. Bank of New York Mellon Corp grew its position in Align Technology by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock worth $277,230,000 after purchasing an additional 15,540 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of Align Technology by 1.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after purchasing an additional 10,919 shares during the period. Bares Capital Management Inc. raised its position in shares of Align Technology by 44.4% during the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock valued at $268,871,000 after buying an additional 252,220 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its stake in shares of Align Technology by 0.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock valued at $170,822,000 after buying an additional 3,600 shares during the period. 88.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. bought 6,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Align Technology Stock Down 3.3 %

Shares of Align Technology stock opened at $222.04 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 $16.59 billion, a P/E ratio of 37.70, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64. The company has a 50-day simple moving average of $233.51 and a 200 day simple moving average of $257.89.

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. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $1.73 earnings per share. On average, equities analysts anticipate that Align Technology, Inc. will post 7.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALGN shares. Morgan Stanley lowered their price target on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Needham & Company LLC started coverage on Align Technology in a research report on Thursday. They issued a “hold” rating for the company. Robert W. Baird lowered their price target on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, Stifel Nicolaus reduced their price objective on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $295.00.

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.