Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 95.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 397 shares of the medical equipment provider’s stock after selling 8,536 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Align Technology were worth $101,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC raised its position in shares of Align Technology by 85.2% during the 3rd quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 69 shares during the period. Factory Mutual Insurance Co. increased its stake in Align Technology by 19.9% during the third quarter. Factory Mutual Insurance Co. now owns 168,293 shares of the medical equipment provider’s stock worth $42,800,000 after acquiring an additional 27,900 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Align Technology by 26.3% in the third quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the medical equipment provider’s stock valued at $1,033,000 after purchasing an additional 847 shares during the period. Gateway Investment Advisers LLC lifted its stake in shares of Align Technology by 5.1% in the 3rd quarter. Gateway Investment Advisers LLC now owns 1,899 shares of the medical equipment provider’s stock valued at $483,000 after purchasing an additional 93 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Align Technology by 114.7% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,679 shares of the medical equipment provider’s stock worth $681,000 after purchasing an additional 1,431 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALGN. Morgan Stanley reduced their price objective on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus decreased their price objective on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating on the stock in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $315.00 price objective on shares of Align Technology in a research report on Friday, September 13th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Finally, Evercore ISI lowered their price target on Align Technology from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $295.00.

Insider Activity at Align Technology

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the acquisition, the director now directly owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by corporate insiders.

Align Technology Trading Down 0.3 %

Align Technology stock opened at $221.27 on Tuesday. The firm has a market capitalization of $16.66 billion, a P/E ratio of 36.45, a P/E/G ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $335.40. The stock’s fifty day simple moving average is $233.94 and its 200-day simple moving average is $255.52.

Align Technology (NASDAQ:ALGN) last issued its quarterly 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. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. Align Technology’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 EPS. Sell-side analysts predict that Align Technology, Inc. will post 7.61 earnings per share for the current year.

About Align Technology

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.