Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Blair William & Co. IL

Blair William & Co. IL lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,567 shares of the medical equipment provider’s stock after selling 2,231 shares during the quarter. Blair William & Co. IL owned approximately 0.31% of Align Technology worth $56,632,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Align Technology in the fourth quarter valued at approximately $223,610,000. Swedbank AB acquired a new stake in shares of Align Technology in the first quarter valued at approximately $96,117,000. Bares Capital Management Inc. increased its holdings in shares of Align Technology by 44.4% in 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 purchasing an additional 252,220 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Align Technology by 102.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 414,772 shares of the medical equipment provider’s stock valued at $113,648,000 after purchasing an additional 209,419 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Align Technology by 371.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 218,779 shares of the medical equipment provider’s stock valued at $71,742,000 after purchasing an additional 172,330 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Activity

In related news, Director C Raymond Larkin, Jr. acquired 6,500 shares of Align Technology stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares in the company, valued at $6,647,366.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.

Align Technology Stock Down 0.1 %

ALGN opened at $253.01 on Thursday. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $335.40. The business has a fifty day simple moving average of $232.28 and a 200-day simple moving average of $265.29. The firm has a market cap of $19.05 billion, a P/E ratio of 41.68, a P/E/G ratio of 5.13 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last released 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 return on equity of 14.07% and a net margin of 11.34%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $1.73 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts expect that Align Technology, Inc. will post 7.61 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on ALGN shares. Evercore ISI cut their price target on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 10th. StockNews.com lowered Align Technology from a “buy” rating to a “hold” rating in a research report on Sunday, September 1st. Robert W. Baird lowered their price objective 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. OTR Global reiterated a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Finally, Stifel Nicolaus lowered their price objective on Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $306.88.

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.