Distillate Capital Partners LLC Invests $14.31 Million in Align Technology, Inc. (NASDAQ:ALGN)

Distillate Capital Partners LLC acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 59,260 shares of the medical equipment provider’s stock, valued at approximately $14,307,000. Distillate Capital Partners LLC owned 0.08% of Align Technology as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Gryphon Financial Partners LLC grew its position in Align Technology by 31.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,396 shares of the medical equipment provider’s stock worth $383,000 after acquiring an additional 330 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Align Technology by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 213,667 shares of the medical equipment provider’s stock worth $58,548,000 after purchasing an additional 7,266 shares in the last quarter. D.A. Davidson & CO. increased its position in 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 buying an additional 200 shares during the last quarter. SageView Advisory Group LLC raised its holdings in Align Technology by 101.9% during the fourth quarter. SageView Advisory Group LLC now owns 1,393 shares of the medical equipment provider’s stock valued at $369,000 after buying an additional 703 shares in the last quarter. Finally, Team Hewins LLC acquired a new stake in shares of Align Technology in the fourth quarter worth about $203,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Insider Buying and Selling at Align Technology

In other news, Director C Raymond Larkin, Jr. purchased 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 completion of the purchase, the director now directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.

Align Technology Trading Up 0.1 %

Align Technology stock opened at $253.16 on Tuesday. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $335.40. The firm has a market capitalization of $19.06 billion, a P/E ratio of 41.71, a PEG ratio of 5.13 and a beta of 1.64. The business has a 50-day moving average of $232.76 and a 200-day moving average of $263.93.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data 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. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALGN. Morgan Stanley reduced their price objective on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Evercore ISI decreased their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. Robert W. Baird lowered their price objective on Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, Stifel Nicolaus dropped their price target on shares of 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, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $306.88.

About Align Technology

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.