Cerity Partners LLC Purchases 554 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Cerity Partners LLC grew its stake in Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 115.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,032 shares of the medical equipment provider’s stock after purchasing an additional 554 shares during the quarter. Cerity Partners LLC’s holdings in Align Technology were worth $245,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ALGN. National Asset Management Inc. boosted its holdings in Align Technology by 12.8% in the first quarter. National Asset Management Inc. now owns 1,792 shares of the medical equipment provider’s stock worth $782,000 after acquiring an additional 204 shares in the last quarter. Metis Global Partners LLC boosted its holdings in Align Technology by 82.4% in the first quarter. Metis Global Partners LLC now owns 1,169 shares of the medical equipment provider’s stock worth $510,000 after acquiring an additional 528 shares in the last quarter. C WorldWide Group Holding A S boosted its holdings in Align Technology by 6.7% in the first quarter. C WorldWide Group Holding A S now owns 63,428 shares of the medical equipment provider’s stock worth $27,655,000 after acquiring an additional 4,000 shares in the last quarter. Versor Investments LP bought a new stake in Align Technology in the first quarter worth $569,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Align Technology by 26.2% in the first quarter. Envestnet Asset Management Inc. now owns 117,597 shares of the medical equipment provider’s stock worth $51,272,000 after purchasing an additional 24,438 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stifel Nicolaus decreased their price target on Align Technology from $325.00 to $265.00 in a research note on Thursday, October 27th. UBS Group decreased their price target on Align Technology from $380.00 to $370.00 and set a “buy” rating for the company in a research note on Friday, July 29th. Robert W. Baird decreased their price target on Align Technology from $310.00 to $260.00 in a research note on Thursday, October 27th. Piper Sandler decreased their price target on Align Technology from $300.00 to $230.00 in a research note on Thursday, October 27th. Finally, StockNews.com started coverage on Align Technology in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $298.00.

Align Technology Stock Performance

Align Technology stock opened at $191.63 on Tuesday. The stock has a market cap of $14.97 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 27.09 and a beta of 1.68. Align Technology, Inc. has a one year low of $172.05 and a one year high of $688.60. The stock has a fifty day moving average of $209.64 and a 200 day moving average of $244.33.

Align Technology (NASDAQ:ALGNGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The medical equipment provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.58). The company had revenue of $890.35 million during the quarter, compared to analysts’ expectations of $973.00 million. Align Technology had a return on equity of 14.39% and a net margin of 13.22%. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.28 EPS. As a group, sell-side analysts predict that Align Technology, Inc. will post 5.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Joseph M. Hogan purchased 10,600 shares of Align Technology stock in a transaction on Wednesday, November 2nd. The stock was acquired at an average price of $188.58 per share, for a total transaction of $1,998,948.00. Following the completion of the transaction, the chief executive officer now directly owns 185,401 shares in the company, valued at approximately $34,962,920.58. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Joseph M. Hogan purchased 10,600 shares of Align Technology stock in a transaction on Wednesday, November 2nd. The stock was acquired at an average price of $188.58 per share, for a total transaction of $1,998,948.00. Following the completion of the transaction, the chief executive officer now directly owns 185,401 shares in the company, valued at approximately $34,962,920.58. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Warren S. Thaler purchased 1,050 shares of Align Technology stock in a transaction on Wednesday, November 2nd. The stock was bought at an average price 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 $5,863,645.86. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

About Align Technology

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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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