Canada Pension Plan Investment Board Has $25.79 Million Position in Align Technology, Inc. (NASDAQ:ALGN)

Canada Pension Plan Investment Board boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,823 shares of the medical equipment provider’s stock after purchasing an additional 5,594 shares during the quarter. Canada Pension Plan Investment Board owned about 0.14% of Align Technology worth $25,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGN. Gryphon Financial Partners LLC grew its stake in shares of Align Technology by 31.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,396 shares of the medical equipment provider’s stock valued at $383,000 after buying an additional 330 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Align Technology by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 213,667 shares of the medical equipment provider’s stock valued at $58,548,000 after acquiring an additional 7,266 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Align Technology by 4.5% during the fourth quarter. D.A. Davidson & CO. now owns 4,644 shares of the medical equipment provider’s stock worth $1,272,000 after purchasing an additional 200 shares during the period. SageView Advisory Group LLC lifted its holdings in shares of Align Technology by 101.9% in the 4th quarter. SageView Advisory Group LLC now owns 1,393 shares of the medical equipment provider’s stock worth $369,000 after purchasing an additional 703 shares in the last quarter. Finally, Team Hewins LLC bought a new position in shares of Align Technology in the 4th quarter worth $203,000. 88.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Align Technology

In related news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ALGN shares. Evercore ISI lowered their price objective on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. Morgan Stanley dropped their price target on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. OTR Global reiterated a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. 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 note on Thursday, July 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $315.00 target price on shares of Align Technology in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $306.88.

Align Technology Trading Down 1.7 %

Shares of Align Technology stock opened at $252.85 on Monday. The business’s fifty day simple moving average is $232.50 and its 200 day simple moving average is $264.34. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $335.40. The firm has a market capitalization of $19.04 billion, a P/E ratio of 41.66, a price-to-earnings-growth ratio of 5.13 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $1.03 billion for 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%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. Analysts predict that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

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.