Kestra Advisory Services LLC Has $1.04 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Kestra Advisory Services LLC boosted its position in shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 24.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,022 shares of the medical equipment provider’s stock after purchasing an additional 996 shares during the period. Kestra Advisory Services LLC’s holdings in Align Technology were worth $1,040,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ALGN. Keybank National Association OH boosted its position in Align Technology by 56,573.8% during the second quarter. Keybank National Association OH now owns 426,754 shares of the medical equipment provider’s stock valued at $101,000,000 after purchasing an additional 426,001 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Align Technology by 72.0% in the second quarter. Brown Advisory Inc. now owns 918,812 shares of the medical equipment provider’s stock worth $217,455,000 after buying an additional 384,494 shares during the last quarter. Bares Capital Management Inc. lifted its position in shares of Align Technology by 68.0% in the second quarter. Bares Capital Management Inc. now owns 690,233 shares of the medical equipment provider’s stock worth $163,357,000 after buying an additional 279,461 shares during the last quarter. Riverbridge Partners LLC lifted its position in shares of Align Technology by 5,579.6% in the third quarter. Riverbridge Partners LLC now owns 268,984 shares of the medical equipment provider’s stock worth $55,709,000 after buying an additional 264,248 shares during the last quarter. Finally, Echo Street Capital Management LLC lifted its position in shares of Align Technology by 97.2% in the second quarter. Echo Street Capital Management LLC now owns 492,964 shares of the medical equipment provider’s stock worth $116,670,000 after buying an additional 242,988 shares during the last quarter. Institutional investors and hedge funds own 84.90% of the company’s stock.

Align Technology Stock Up 0.5 %

Shares of ALGN opened at $252.63 on Wednesday. Align Technology, Inc. has a 12-month low of $172.05 and a 12-month high of $552.00. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 39.05, a P/E/G ratio of 29.94 and a beta of 1.59. The stock’s 50-day moving average price is $209.73 and its 200 day moving average price is $228.39.

Align Technology (NASDAQ:ALGNGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $973.00 million. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. Equities research analysts expect that Align Technology, Inc. will post 5.8 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALGN. Piper Sandler boosted their price target on Align Technology from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 11th. StockNews.com began coverage on Align Technology in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley reduced their price target on Align Technology from $402.00 to $314.00 and set an “overweight” rating for the company in a research report on Thursday, October 27th. Stifel Nicolaus dropped their price objective on Align Technology from $325.00 to $265.00 in a research note on Thursday, October 27th. Finally, The Goldman Sachs Group dropped their price objective on Align Technology from $250.00 to $165.00 and set a “sell” rating on the stock in a research note on Thursday, October 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.78.

Insider Activity at Align Technology

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

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.

Further Reading

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

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