Handelsbanken Fonder AB Decreases Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Handelsbanken Fonder AB decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 0.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 34,001 shares of the medical equipment provider’s stock after selling 200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Align Technology were worth $7,042,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Gradient Investments LLC lifted its position in Align Technology by 1,428.6% during the first quarter. Gradient Investments LLC now owns 107 shares of the medical equipment provider’s stock worth $47,000 after buying an additional 100 shares in the last quarter. Tsfg LLC lifted its position in Align Technology by 68.0% during the second quarter. Tsfg LLC now owns 126 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 51 shares in the last quarter. Castle Wealth Management LLC purchased a new position in Align Technology during the second quarter worth approximately $38,000. Massmutual Trust Co. FSB ADV lifted its position in Align Technology by 60.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 176 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 66 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC purchased a new position in Align Technology during the second quarter worth approximately $50,000. Hedge funds and other institutional investors own 84.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ALGN. StockNews.com assumed coverage on Align Technology in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Robert W. Baird reduced their target price on Align Technology from $310.00 to $260.00 in a research report on Thursday, October 27th. Stifel Nicolaus reduced their target price on Align Technology from $325.00 to $265.00 in a research report on Thursday, October 27th. Piper Sandler reduced their target price on Align Technology from $300.00 to $230.00 in a research report on Thursday, October 27th. Finally, 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 research report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.00.

Align Technology Trading Up 0.4 %

Shares of NASDAQ ALGN opened at $220.77 on Monday. Align Technology, Inc. has a twelve month low of $172.05 and a twelve month high of $567.13. The stock has a fifty day simple moving average of $197.98 and a 200-day simple moving average of $229.20. The stock has a market capitalization of $17.24 billion, a PE ratio of 34.12, a PEG ratio of 26.90 and a beta of 1.59.

Align Technology (NASDAQ:ALGNGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The medical equipment provider reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.95). Align Technology had a net margin of 13.22% and a return on equity of 14.39%. The firm had revenue of $890.35 million during the quarter, compared to analyst estimates of $973.00 million. During the same period in the previous year, the firm posted $2.28 earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities analysts predict that Align Technology, Inc. will post 5.81 earnings per share for the current year.

Insider Buying and Selling

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

About Align Technology

(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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