Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its position in Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 62.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,756 shares of the medical equipment provider’s stock after selling 4,549 shares during the quarter. Bank of Nova Scotia’s holdings in Align Technology were worth $653,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. J.W. Cole Advisors Inc. purchased a new position in shares of Align Technology in the 1st quarter worth about $29,000. Tsfg LLC raised its holdings in shares of Align Technology by 68.0% in the 2nd quarter. Tsfg LLC now owns 126 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 51 shares during the period. Castle Wealth Management LLC purchased a new position in shares of Align Technology in the 2nd quarter worth about $38,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Align Technology by 60.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 176 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 66 shares during the period. Finally, Gradient Investments LLC raised its holdings in shares of Align Technology by 1,428.6% in the 1st quarter. Gradient Investments LLC now owns 107 shares of the medical equipment provider’s stock worth $47,000 after purchasing an additional 100 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Align Technology

In other news, CEO Joseph M. Hogan bought 10,600 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The stock was bought at an average price of $188.58 per share, for a total transaction of $1,998,948.00. Following the transaction, the chief executive officer now owns 185,401 shares in the company, valued at $34,962,920.58. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Warren S. Thaler bought 1,050 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The stock was bought at an average price of $191.21 per share, for a total transaction of $200,770.50. Following the transaction, the director now owns 30,666 shares in the company, valued at $5,863,645.86. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph M. Hogan acquired 10,600 shares of Align Technology stock in a transaction that occurred on Wednesday, November 2nd. The shares were bought at an average price of $188.58 per share, with a total value of $1,998,948.00. Following the transaction, the chief executive officer now directly owns 185,401 shares in the company, valued at $34,962,920.58. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ALGN. StockNews.com began coverage on Align Technology in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Stifel Nicolaus dropped their target price on Align Technology from $325.00 to $265.00 in a report on Thursday, October 27th. UBS Group dropped their target price on Align Technology from $380.00 to $370.00 and set a “buy” rating on the stock in a report on Friday, July 29th. Piper Sandler dropped their target price on Align Technology from $300.00 to $230.00 in a report on Thursday, October 27th. Finally, Stephens dropped their target price on Align Technology from $500.00 to $375.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and an average target price of $298.00.

Align Technology Stock Down 0.7 %

ALGN stock opened at $193.56 on Friday. The company has a market capitalization of $15.12 billion, a PE ratio of 29.92, a P/E/G ratio of 27.28 and a beta of 1.68. The stock’s 50 day moving average is $211.16 and its two-hundred day moving average is $245.44. Align Technology, Inc. has a 52-week low of $172.05 and a 52-week high of $691.96.

Align Technology (NASDAQ:ALGNGet Rating) last issued its earnings results on Wednesday, October 26th. The medical equipment provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.58). The firm had revenue of $890.35 million during the quarter, compared to analyst estimates of $973.00 million. Align Technology had a return on equity of 14.39% and a net margin of 13.22%. Align Technology’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.28 EPS. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 5.81 EPS for the current year.

Align Technology Profile

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Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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