Tredje AP fonden Sells 208 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Tredje AP fonden reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,155 shares of the medical equipment provider’s stock after selling 208 shares during the quarter. Tredje AP fonden’s holdings in Align Technology were worth $3,176,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ALGN. Swedbank AB acquired a new stake in Align Technology during the 1st quarter worth approximately $96,117,000. Bares Capital Management Inc. increased its position in Align Technology by 44.4% during the 1st quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after buying an additional 252,220 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Align Technology by 102.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 414,772 shares of the medical equipment provider’s stock worth $113,648,000 after buying an additional 209,419 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position 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 acquiring an additional 172,330 shares during the period. Finally, Avidity Partners Management LP acquired a new position in shares of Align Technology in the fourth quarter valued at about $42,689,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 1.6 %

NASDAQ ALGN opened at $257.17 on Friday. The firm has a market capitalization of $19.36 billion, a price-to-earnings ratio of 42.37, a P/E/G ratio of 5.13 and a beta of 1.64. The firm’s 50 day simple moving average is $232.30 and its 200 day simple moving average is $265.24. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. Align Technology’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 EPS. On average, equities research analysts forecast that Align Technology, Inc. will post 7.61 earnings per share for the current year.

Insider Buying and Selling at Align Technology

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the purchase, the director now directly owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday. 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. Morgan Stanley lowered 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. Stifel Nicolaus lowered their target price on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.