Scott & Selber Inc. increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,686 shares of the medical equipment provider’s stock after acquiring an additional 96 shares during the quarter. Scott & Selber Inc.’s holdings in Align Technology were worth $1,830,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of ALGN. Nicollet Investment Management Inc. lifted its stake in Align Technology by 0.5% in the first quarter. Nicollet Investment Management Inc. now owns 7,095 shares of the medical equipment provider’s stock valued at $2,017,000 after buying an additional 35 shares during the period. Quantum Capital Management lifted its stake in Align Technology by 3.0% in the first quarter. Quantum Capital Management now owns 1,545 shares of the medical equipment provider’s stock valued at $439,000 after buying an additional 45 shares during the period. Cornerstone Advisors Inc. lifted its stake in Align Technology by 9.0% in the first quarter. Cornerstone Advisors Inc. now owns 633 shares of the medical equipment provider’s stock valued at $180,000 after buying an additional 52 shares during the period. Foresight Wealth Management LLC lifted its stake in Align Technology by 5.5% in the second quarter. Foresight Wealth Management LLC now owns 1,040 shares of the medical equipment provider’s stock valued at $285,000 after buying an additional 54 shares during the period. Finally, ETF Managers Group LLC lifted its stake in Align Technology by 10.7% in the first quarter. ETF Managers Group LLC now owns 568 shares of the medical equipment provider’s stock valued at $162,000 after buying an additional 55 shares during the period. 83.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ ALGN traded up $2.36 during mid-day trading on Tuesday, reaching $182.04. 33,316 shares of the company’s stock were exchanged, compared to its average volume of 2,002,115. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.74. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 36.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.95. Align Technology, Inc. has a twelve month low of $177.93 and a twelve month high of $398.88. The firm’s fifty day moving average is $246.03.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.13. The business had revenue of $600.70 million during the quarter, compared to the consensus estimate of $599.86 million. Align Technology had a return on equity of 29.26% and a net margin of 19.06%. Align Technology’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. As a group, research analysts predict that Align Technology, Inc. will post 5.03 EPS for the current year.
Several equities analysts have weighed in on ALGN shares. Piper Jaffray Companies set a $240.00 target price on Align Technology and gave the company a “buy” rating in a research note on Wednesday, July 31st. Guggenheim started coverage on Align Technology in a research note on Wednesday, April 17th. They issued a “buy” rating and a $335.00 target price on the stock. Robert W. Baird cut their target price on Align Technology from $336.00 to $259.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. ValuEngine raised Align Technology from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research lowered Align Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $297.91.
In related news, VP Vamsi Mohan Raj Pudipeddi purchased 1,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $188.11 per share, for a total transaction of $206,921.00. Following the completion of the purchase, the vice president now directly owns 1,100 shares in the company, valued at $206,921. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Warren S. Thaler sold 3,115 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $312.53, for a total value of $973,530.95. Following the completion of the transaction, the director now owns 47,979 shares of the company’s stock, valued at $14,994,876.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,723 shares of company stock valued at $14,726,871. 1.30% of the stock is owned by corporate insiders.
Align Technology Profile
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
Recommended Story: What are catch-up contributions?
Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGN).
Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.