Profund Advisors LLC lowered its stake in Align Technology, Inc. (NASDAQ:ALGN) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,758 shares of the medical equipment provider’s stock after selling 60 shares during the period. Profund Advisors LLC’s holdings in Align Technology were worth $1,850,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. grew its position in Align Technology by 9.0% in the first quarter. Cornerstone Advisors Inc. now owns 633 shares of the medical equipment provider’s stock worth $180,000 after acquiring an additional 52 shares in the last quarter. Foresight Wealth Management LLC grew its position 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 worth $285,000 after acquiring an additional 54 shares in the last quarter. ETF Managers Group LLC grew its position 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 worth $162,000 after acquiring an additional 55 shares in the last quarter. YorkBridge Wealth Partners LLC grew its position in Align Technology by 1.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 5,155 shares of the medical equipment provider’s stock worth $1,411,000 after acquiring an additional 60 shares in the last quarter. Finally, Magnus Financial Group LLC grew its position in Align Technology by 9.2% in the second quarter. Magnus Financial Group LLC now owns 769 shares of the medical equipment provider’s stock worth $210,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 88.92% of the company’s stock.
Shares of NASDAQ:ALGN traded up $2.85 during trading hours on Friday, hitting $177.47. 494,105 shares of the company’s stock traded hands, compared to its average volume of 1,162,084. Align Technology, Inc. has a 1 year low of $169.84 and a 1 year high of $398.88. The business has a fifty day moving average price of $183.79 and a 200-day moving average price of $261.66. The firm has a market capitalization of $14.36 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 1.48 and a beta of 2.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.74.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.13. The firm had revenue of $600.70 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $1.30 earnings per share. As a group, equities analysts predict that Align Technology, Inc. will post 5 earnings per share for the current year.
Several research analysts have issued reports on the company. Bank of America lowered Align Technology from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. UBS Group set a $230.00 target price on Align Technology and gave the company a “hold” rating in a research report on Friday, July 26th. Credit Suisse Group dropped their target price on Align Technology from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Zacks Investment Research lowered Align Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Wolfe Research assumed coverage on Align Technology in a research report on Thursday, May 30th. They set a “peer perform” rating for the company. 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 presently has an average rating of “Buy” and an average price target of $297.91.
In other news, VP Vamsi Mohan Raj Pudipeddi purchased 1,100 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $188.11 per share, for a total transaction of $206,921.00. Following the completion of the acquisition, the vice president now owns 1,100 shares of the company’s stock, valued at $206,921. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrea Lynn Saia sold 4,157 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $179.54, for a total value of $746,347.78. The disclosure for this sale can be found here. Insiders sold 44,157 shares of company stock valued at $7,976,448 in the last quarter. 1.30% of the stock is owned by company insiders.
Align Technology Company 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.
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