Align Technology, Inc. (NASDAQ:ALGN) Stock Position Raised by Greenleaf Trust

Greenleaf Trust boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,329 shares of the medical equipment provider’s stock after acquiring an additional 66 shares during the period. Greenleaf Trust’s holdings in Align Technology were worth $338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mather Group LLC. lifted its holdings in shares of Align Technology by 52.5% in the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 42 shares during the last quarter. Quarry LP increased its position in Align Technology by 53.0% in the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 44 shares during the period. Crewe Advisors LLC lifted its stake in Align Technology by 36.8% in the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock valued at $41,000 after buying an additional 46 shares during the last quarter. Daiwa Securities Group Inc. boosted 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 valued at $2,143,000 after acquiring an additional 54 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Align Technology by 8.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 687 shares of the medical equipment provider’s stock valued at $166,000 after acquiring an additional 56 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Align Technology

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.62% of the company’s stock.

Align Technology Trading Up 1.3 %

Shares of NASDAQ ALGN opened at $219.30 on Friday. The firm has a 50-day moving average of $233.41 and a two-hundred day moving average of $250.02. The company has a market capitalization of $16.51 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $1.62 earnings per share. As a group, research analysts predict that Align Technology, Inc. will post 7.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALGN. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Robert W. Baird reduced their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday. Morgan Stanley reduced their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Evercore ISI lowered their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Align Technology has a consensus rating of “Hold” and a consensus price target of $276.38.

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.