Creative Planning Boosts Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Creative Planning lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,144 shares of the medical equipment provider’s stock after buying an additional 817 shares during the period. Creative Planning’s holdings in Align Technology were worth $2,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ALGN. Kayne Anderson Rudnick Investment Management LLC raised its stake in Align Technology by 4,391.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock worth $117,879,000 after purchasing an additional 477,380 shares during the period. Swedbank AB acquired a new position in shares of Align Technology in the first quarter valued at approximately $96,117,000. Bares Capital Management Inc. grew its holdings 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 acquiring an additional 252,220 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Align Technology by 127.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 343,512 shares of the medical equipment provider’s stock worth $82,934,000 after acquiring an additional 192,474 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Align Technology by 371.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 218,779 shares of the medical equipment provider’s stock worth $71,742,000 after acquiring an additional 172,330 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI reduced their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday. Stifel Nicolaus dropped their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Finally, Piper Sandler lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Align Technology presently has an average rating of “Hold” and an average target price of $276.38.

Insider Buying and Selling

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of Align Technology 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 acquisition, the director now owns 28,247 shares in the company, valued at $6,647,366.51. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is currently owned by company insiders.

Align Technology Stock Performance

NASDAQ ALGN opened at $219.30 on Friday. Align Technology, Inc. has a one year low of $176.34 and a one year high of $335.40. The company’s 50 day moving average price is $233.41 and its 200 day moving average price is $250.02. The firm has a market capitalization of $16.51 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 5.33 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same quarter last year, the company earned $1.62 earnings per share. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts forecast 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.