Stephens Inc. AR Has $7.22 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Stephens Inc. AR cut its holdings in Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 5.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,560 shares of the medical equipment provider’s stock after selling 1,030 shares during the period. Stephens Inc. AR’s holdings in Align Technology were worth $7,220,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tsfg LLC increased its holdings in Align Technology by 200.0% during the first quarter. Tsfg LLC now owns 75 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 50 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Align Technology during the fourth quarter worth $39,000. SOA Wealth Advisors LLC. increased its holdings in Align Technology by 3,733.3% during the first quarter. SOA Wealth Advisors LLC. now owns 115 shares of the medical equipment provider’s stock worth $50,000 after buying an additional 112 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Align Technology by 11,400.0% in the first quarter. Allworth Financial LP now owns 115 shares of the medical equipment provider’s stock valued at $50,000 after purchasing an additional 114 shares during the last quarter. Finally, Bank of New Hampshire acquired a new position in shares of Align Technology in the first quarter valued at $55,000. 88.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ALGN shares. StockNews.com started coverage on shares of Align Technology in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler reduced their target price on shares of Align Technology from $440.00 to $370.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. Robert W. Baird reduced their target price on shares of Align Technology from $625.00 to $510.00 and set an “outperform” rating for the company in a research report on Thursday, April 28th. Morgan Stanley reduced their target price on shares of Align Technology from $479.00 to $438.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Finally, TheStreet cut shares of Align Technology from a “b-” rating to a “c+” rating in a research report on Monday, April 25th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $471.57.

Align Technology Trading Up 4.3 %

Shares of NASDAQ ALGN opened at $262.61 on Thursday. The company has a market cap of $20.70 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 4.15 and a beta of 1.77. Align Technology, Inc. has a 12 month low of $225.86 and a 12 month high of $737.45. The stock has a 50-day moving average price of $258.16 and a two-hundred day moving average price of $371.79.

Align Technology (NASDAQ:ALGNGet Rating) last issued its earnings results on Wednesday, July 27th. The medical equipment provider reported $2.00 EPS for the quarter, hitting the consensus estimate of $2.00. The firm had revenue of $969.60 million during the quarter, compared to the consensus estimate of $986.05 million. Align Technology had a return on equity of 19.90% and a net margin of 17.51%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.51 earnings per share. On average, sell-side analysts predict that Align Technology, Inc. will post 8.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director C Raymond Larkin, Jr. acquired 1,000 shares of the stock in a transaction dated Friday, May 13th. The stock was bought at an average price of $264.42 per share, with a total value of $264,420.00. Following the completion of the purchase, the director now directly owns 18,190 shares of the company’s stock, valued at approximately $4,809,799.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director C Raymond Larkin, Jr. acquired 1,000 shares of the stock in a transaction dated Friday, May 13th. The stock was bought at an average price of $264.42 per share, with a total value of $264,420.00. Following the completion of the purchase, the director now directly owns 18,190 shares of the company’s stock, valued at approximately $4,809,799.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph M. Hogan acquired 6,700 shares of the stock in a transaction dated Wednesday, May 4th. The stock was purchased at an average cost of $298.48 per share, with a total value of $1,999,816.00. Following the purchase, the chief executive officer now directly owns 174,801 shares of the company’s stock, valued at $52,174,602.48. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

About Align Technology

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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.

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

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