Skandinaviska Enskilda Banken AB publ Sells 8,198 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Skandinaviska Enskilda Banken AB publ decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 12.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,169 shares of the medical equipment provider’s stock after selling 8,198 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.08% of Align Technology worth $13,797,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Parnassus Investments LLC raised its holdings in Align Technology by 11.3% in the 4th quarter. Parnassus Investments LLC now owns 396,603 shares of the medical equipment provider’s stock valued at $108,669,000 after acquiring an additional 40,406 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in Align Technology by 3.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock valued at $2,495,000 after acquiring an additional 339 shares in the last quarter. Tidal Investments LLC raised its holdings in Align Technology by 122.9% in the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock valued at $1,445,000 after acquiring an additional 2,430 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Align Technology in the 4th quarter valued at approximately $1,197,000. Finally, Norden Group LLC raised its holdings in Align Technology by 3,647.7% in the 1st quarter. Norden Group LLC now owns 36,540 shares of the medical equipment provider’s stock valued at $11,982,000 after acquiring an additional 35,565 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

ALGN has been the subject of several recent research reports. 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 report on Monday, July 22nd. Evercore ISI cut their target price on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. OTR Global restated a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Morgan Stanley cut their target price on Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and a consensus target price of $306.88.

Insider Buying and Selling at Align Technology

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

Align Technology Stock Performance

Shares of ALGN opened at $252.85 on Friday. The stock has a fifty day moving average price of $232.50 and a two-hundred day moving average price of $264.85. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $335.40. The company has a market cap of $19.04 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 5.13 and a beta of 1.64.

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, beating 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 firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $1.73 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts predict that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

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.