Richard W. Paul & Associates LLC Increases Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Richard W. Paul & Associates LLC boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 28.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,809 shares of the medical equipment provider’s stock after buying an additional 619 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Align Technology were worth $714,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ALGN. Laurus Investment Counsel Inc. lifted its position in shares of Align Technology by 29.1% during the third quarter. Laurus Investment Counsel Inc. now owns 41,565 shares of the medical equipment provider’s stock valued at $10,571,000 after purchasing an additional 9,380 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Align Technology by 2.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,079 shares of the medical equipment provider’s stock valued at $1,800,000 after buying an additional 136 shares during the last quarter. Marathon Asset Management Ltd lifted its position in shares of Align Technology by 1.8% during the 3rd quarter. Marathon Asset Management Ltd now owns 154,869 shares of the medical equipment provider’s stock worth $39,387,000 after buying an additional 2,776 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Align Technology by 30.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,114 shares of the medical equipment provider’s stock worth $283,000 after buying an additional 261 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Align Technology in the third quarter valued at approximately $229,000. 88.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the acquisition, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley dropped their price target on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Robert W. Baird lowered their target price on Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Piper Sandler reduced their price target on shares of Align Technology from $315.00 to $285.00 and set an “overweight” rating for the company in a research report on Thursday. Needham & Company LLC assumed coverage on shares of Align Technology in a report on Thursday, October 10th. They set a “hold” rating for the company. Finally, Stifel Nicolaus dropped their target price on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $291.25.

Align Technology Stock Up 1.7 %

Shares of NASDAQ:ALGN opened at $219.70 on Friday. The firm has a market capitalization of $16.54 billion, a PE ratio of 36.19, a P/E/G ratio of 5.33 and a beta of 1.64. The company has a 50-day moving average price of $234.57 and a two-hundred day moving average price of $253.52. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $1.73 EPS. Align Technology’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal 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.