Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Davidson Investment Advisors

Davidson Investment Advisors grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,163 shares of the medical equipment provider’s stock after purchasing an additional 158 shares during the period. Align Technology accounts for 1.1% of Davidson Investment Advisors’ portfolio, making the stock its 27th biggest position. Davidson Investment Advisors owned approximately 0.07% of Align Technology worth $18,093,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Manchester Capital Management LLC acquired a new stake in shares of Align Technology during the 1st quarter worth approximately $26,000. American Trust acquired a new stake in Align Technology in the first quarter worth $295,000. Xponance Inc. lifted its stake in Align Technology by 13.7% in the second quarter. Xponance Inc. now owns 20,836 shares of the medical equipment provider’s stock valued at $7,368,000 after buying an additional 2,505 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Align Technology by 0.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,315 shares of the medical equipment provider’s stock valued at $4,115,000 after acquiring an additional 36 shares during the period. Finally, Versor Investments LP acquired a new stake in shares of Align Technology in the 2nd quarter worth about $769,000. 87.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Joseph M. Hogan bought 5,319 shares of Align Technology stock in a transaction dated Tuesday, October 31st. The stock was acquired at an average cost of $188.00 per share, with a total value of $999,972.00. Following the completion of the acquisition, the chief executive officer now directly owns 203,470 shares in the company, valued at approximately $38,252,360. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Align Technology news, CEO Joseph M. Hogan acquired 5,319 shares of Align Technology stock in a transaction that occurred on Tuesday, October 31st. The stock was purchased at an average cost of $188.00 per share, with a total value of $999,972.00. Following the purchase, the chief executive officer now owns 203,470 shares in the company, valued at $38,252,360. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph M. Hogan purchased 5,194 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average cost of $192.50 per share, with a total value of $999,845.00. Following the completion of the purchase, the chief executive officer now directly owns 208,664 shares in the company, valued at $40,167,820. The disclosure for this purchase can be found here. 0.64% of the stock is currently owned by company insiders.

Align Technology Price Performance

Shares of NASDAQ:ALGN traded up $7.21 on Monday, reaching $213.85. 563,069 shares of the company traded hands, compared to its average volume of 893,270. The stock has a market capitalization of $16.38 billion, a PE ratio of 45.13, a P/E/G ratio of 1.70 and a beta of 1.58. The company’s 50 day moving average is $259.73 and its 200-day moving average is $308.08. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.24). Align Technology had a net margin of 9.53% and a return on equity of 12.66%. The company had revenue of $960.21 million for the quarter, compared to analysts’ expectations of $994.60 million. As a group, analysts expect that Align Technology, Inc. will post 6.86 EPS for the current year.

Analyst Upgrades and Downgrades

ALGN has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on shares of Align Technology from $367.00 to $400.00 in a research report on Thursday, July 27th. HSBC started coverage on Align Technology in a research report on Wednesday, August 30th. They issued a “buy” rating and a $450.00 target price on the stock. Stifel Nicolaus reduced their price target on Align Technology from $430.00 to $390.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. StockNews.com initiated coverage on shares of Align Technology in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Evercore ISI decreased their target price on shares of Align Technology from $400.00 to $320.00 in a research report on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $336.60.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).