Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. cut its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,021 shares of the medical equipment provider’s stock after selling 200 shares during the quarter. Securian Asset Management Inc.’s holdings in Align Technology were worth $971,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. acquired a new position in Align Technology in the first quarter worth approximately $26,000. LRI Investments LLC acquired a new stake in shares of Align Technology during the first quarter valued at approximately $29,000. Versant Capital Management Inc boosted its stake in Align Technology by 547.1% in the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 93 shares during the period. Crewe Advisors LLC purchased a new position in Align Technology during the 1st quarter worth approximately $41,000. Finally, Trust Co. of Vermont purchased a new stake in shares of Align Technology in the second quarter valued at $39,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 0.1 %

Shares of NASDAQ:ALGN traded down $0.32 on Monday, reaching $214.60. The company had a trading volume of 355,844 shares, compared to its average volume of 790,640. The stock has a market capitalization of $16.16 billion, a P/E ratio of 35.32, a P/E/G ratio of 5.18 and a beta of 1.66. The stock has a 50-day moving average price of $241.03 and a 200 day moving average price of $277.12. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $375.68.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $1.73 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Align Technology, Inc. will post 7.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Morgan Stanley dropped their price objective on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Piper Sandler decreased their target price on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Robert W. Baird lowered their price target on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have given 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 price target of $322.78.

Align Technology Company 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, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.