Liontrust Investment Partners LLP Sells 25,234 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Liontrust Investment Partners LLP lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 83.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,903 shares of the medical equipment provider’s stock after selling 25,234 shares during the period. Liontrust Investment Partners LLP’s holdings in Align Technology were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Mather Group LLC. bought a new position in shares of Align Technology in the 1st quarter valued at about $26,000. Versant Capital Management Inc lifted its stake in shares of Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 93 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Align Technology in the 1st quarter valued at about $29,000. Blue Trust Inc. grew its holdings in Align Technology by 150.9% in the second quarter. Blue Trust Inc. now owns 133 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 80 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new position in Align Technology during the 2nd quarter worth $39,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

NASDAQ ALGN opened at $231.65 on Tuesday. The company’s 50 day simple moving average is $235.25 and its 200 day simple moving average is $273.68. The company has a market capitalization of $17.44 billion, a P/E ratio of 38.16, a PEG ratio of 5.18 and a beta of 1.66. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $375.68.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.73 EPS. On average, analysts anticipate that Align Technology, Inc. will post 7.64 earnings per share for the current year.

Insiders Place Their Bets

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of Align Technology stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares in the company, valued at $6,647,366.51. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ALGN shares. Robert W. Baird decreased their target price on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. 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 report on Tuesday, June 4th. Piper Sandler lowered their price objective on Align Technology from $330.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Evercore ISI lowered their target price on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $322.78.

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.