Point72 Asia Singapore Pte. Ltd. Takes $266,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,102 shares of the medical equipment provider’s stock, valued at approximately $266,000.

Other institutional investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. raised its stake in Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 94 shares in the last quarter. Mather Group LLC. bought a new position in Align Technology during the 1st quarter valued at about $26,000. Innealta Capital LLC acquired a new position in Align Technology in the second quarter valued at about $26,000. Rothschild Investment LLC bought a new stake in Align Technology during the second quarter worth about $26,000. Finally, Versant Capital Management Inc increased its holdings in shares of Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. OTR Global reissued a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Evercore ISI decreased their price objective on shares of 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 dropped their target price on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Morgan Stanley decreased 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 note on Thursday, July 25th. Finally, StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $306.88.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $249.46 on Friday. The company has a 50 day moving average price of $232.63 and a two-hundred day moving average price of $263.34. The company has a market capitalization of $18.63 billion, a PE ratio of 41.10, a PEG ratio of 5.77 and a beta of 1.64. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $335.40.

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. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. On average, sell-side analysts forecast that Align Technology, Inc. will post 7.61 earnings per share for the current year.

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the transaction, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by insiders.

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.