Vanguard Personalized Indexing Management LLC Has $2.21 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Vanguard Personalized Indexing Management LLC lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 9.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,148 shares of the medical equipment provider’s stock after buying an additional 762 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Align Technology were worth $2,209,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ALGN. Vanguard Group Inc. raised its stake in shares of Align Technology by 0.3% during 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 buying an additional 25,362 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Align Technology by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock valued at $277,230,000 after buying an additional 15,540 shares during the period. Ninety One UK Ltd increased its holdings in 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 in the last quarter. Bares Capital Management Inc. grew its holdings 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 worth $268,871,000 after buying an additional 252,220 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Align Technology by 11.1% in the fourth quarter. Allianz Asset Management GmbH now owns 668,823 shares of the medical equipment provider’s stock valued at $183,258,000 after purchasing an additional 67,088 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, for a total transaction 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. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.62% of the stock is currently owned by company insiders.

Align Technology Price Performance

Align Technology stock opened at $252.85 on Friday. Align Technology, Inc. has a one year low of $176.34 and a one year high of $335.40. The firm has a market capitalization of $19.04 billion, a P/E ratio of 41.66, a PEG ratio of 5.13 and a beta of 1.64. The business has a fifty day moving average price of $232.50 and a 200-day moving average price of $264.85.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $1.73 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. Sell-side analysts expect that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Evercore ISI lowered their target price on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Stifel Nicolaus reduced their price objective on Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Robert W. Baird cut their price target on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. OTR Global restated a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Finally, Piper Sandler restated an “overweight” rating and set a $315.00 price objective on shares of Align Technology in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $306.88.

Align Technology Company 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.