Sei Investments Co. Has $21.57 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Sei Investments Co. trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 32.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,336 shares of the medical equipment provider’s stock after selling 42,499 shares during the period. Sei Investments Co. owned approximately 0.12% of Align Technology worth $21,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. raised its stake in shares of Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 94 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Align Technology during the 1st quarter worth about $26,000. Innealta Capital LLC purchased a new stake in shares of Align Technology during the 2nd quarter worth about $26,000. Rothschild Investment LLC purchased a new stake in shares of Align Technology during the 2nd quarter worth about $26,000. Finally, Versant Capital Management Inc raised 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 in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Align Technology

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the firm’s stock in a transaction dated 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 acquisition, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Piper Sandler reissued an “overweight” rating and issued a $315.00 price objective on shares of Align Technology in a research note on Friday, September 13th. OTR Global reissued a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Robert W. Baird cut their price objective on Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, Stifel Nicolaus cut their price objective on Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $306.88.

Align Technology Stock Down 2.6 %

Shares of NASDAQ ALGN opened at $242.45 on Thursday. The business’s 50 day moving average is $232.79 and its two-hundred day moving average is $263.48. The company has a market cap of $18.11 billion, a P/E ratio of 39.94, a P/E/G ratio of 5.77 and a beta of 1.64. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate 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 business posted $1.73 EPS. Sell-side analysts expect that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

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.