Ascent Group LLC Purchases 702 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Ascent Group LLC grew its position in Align Technology, Inc. (NASDAQ:ALGN) by 11.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,911 shares of the medical equipment provider’s stock after acquiring an additional 702 shares during the quarter. Ascent Group LLC’s holdings in Align Technology were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Gryphon Financial Partners LLC raised its stake in Align Technology by 31.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,396 shares of the medical equipment provider’s stock valued at $383,000 after purchasing an additional 330 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of Align Technology by 30.1% in the 4th quarter. Bank of Nova Scotia now owns 7,115 shares of the medical equipment provider’s stock valued at $1,949,000 after acquiring an additional 1,646 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Align Technology by 21.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,584 shares of the medical equipment provider’s stock worth $708,000 after acquiring an additional 452 shares in the last quarter. Tradition Wealth Management LLC increased its stake in Align Technology by 143.2% during the fourth quarter. Tradition Wealth Management LLC now owns 338 shares of the medical equipment provider’s stock worth $93,000 after acquiring an additional 199 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Align Technology by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 118,267 shares of the medical equipment provider’s stock valued at $32,405,000 after purchasing an additional 2,191 shares during the period. Institutional investors own 88.43% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

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

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $254.81 on Monday. The firm has a market cap of $19.18 billion, a PE ratio of 41.98, a price-to-earnings-growth ratio of 5.77 and a beta of 1.64. The firm’s 50 day simple moving average is $232.67 and its 200-day simple moving average is $262.12. Align Technology, Inc. has a one year low of $176.34 and a one year high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $1.73 EPS. Align Technology’s revenue was up 2.6% on a year-over-year basis. Equities research analysts predict 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.