Mackenzie Financial Corp Buys 7,980 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Mackenzie Financial Corp increased its stake in Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 80.1% in the second quarter, HoldingsChannel reports. The fund owned 17,940 shares of the medical equipment provider’s stock after purchasing an additional 7,980 shares during the period. Mackenzie Financial Corp’s holdings in Align Technology were worth $4,246,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gradient Investments LLC lifted its stake in shares of Align Technology by 1,428.6% in the 1st quarter. Gradient Investments LLC now owns 107 shares of the medical equipment provider’s stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. Tsfg LLC grew its holdings in shares of Align Technology by 68.0% during the 2nd quarter. Tsfg LLC now owns 126 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 51 shares during the period. Castle Wealth Management LLC purchased a new position in shares of Align Technology during the 2nd quarter worth approximately $38,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Align Technology by 60.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 176 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 66 shares during the period. Finally, Sugarloaf Wealth Management LLC purchased a new position in shares of Align Technology during the 2nd quarter worth approximately $50,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALGN shares. Morgan Stanley reduced their target price on Align Technology from $402.00 to $314.00 and set an “overweight” rating on the stock in a report on Thursday, October 27th. Robert W. Baird reduced their target price on Align Technology from $310.00 to $260.00 in a report on Thursday, October 27th. Stifel Nicolaus reduced their target price on Align Technology from $325.00 to $265.00 in a report on Thursday, October 27th. UBS Group cut their price target on Align Technology from $380.00 to $370.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. Finally, StockNews.com began coverage on Align Technology in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Align Technology has an average rating of “Moderate Buy” and a consensus price target of $298.00.

Align Technology Stock Down 0.7 %

Align Technology stock opened at $193.56 on Monday. The company has a market capitalization of $15.12 billion, a P/E ratio of 29.92, a PEG ratio of 27.09 and a beta of 1.68. Align Technology, Inc. has a twelve month low of $172.05 and a twelve month high of $691.96. The stock’s 50 day moving average is $211.16 and its 200 day moving average is $244.98.

Align Technology (NASDAQ:ALGNGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The medical equipment provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.58). The business had revenue of $890.35 million during the quarter, compared to the consensus estimate of $973.00 million. Align Technology had a net margin of 13.22% and a return on equity of 14.39%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.28 earnings per share. As a group, equities analysts expect that Align Technology, Inc. will post 5.81 EPS for the current year.

Insider Activity at Align Technology

In other Align Technology news, Director Warren S. Thaler acquired 1,050 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were acquired at an average cost of $191.21 per share, with a total value of $200,770.50. Following the transaction, the director now owns 30,666 shares of the company’s stock, valued at approximately $5,863,645.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Joseph M. Hogan purchased 10,600 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were purchased at an average cost of $188.58 per share, with a total value of $1,998,948.00. Following the acquisition, the chief executive officer now directly owns 185,401 shares of the company’s stock, valued at $34,962,920.58. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Warren S. Thaler purchased 1,050 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were purchased at an average cost of $191.21 per share, for a total transaction of $200,770.50. Following the completion of the acquisition, the director now directly owns 30,666 shares in the company, valued at $5,863,645.86. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by insiders.

Align Technology Company Profile

(Get Rating)

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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