Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Czech National Bank

Czech National Bank lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,342 shares of the medical equipment provider’s stock after buying an additional 810 shares during the period. Czech National Bank’s holdings in Align Technology were worth $3,221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mather Group LLC. bought a new position in shares of Align Technology in the first quarter worth $26,000. Versant Capital Management Inc increased its position in shares of Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 93 shares during the period. LRI Investments LLC acquired a new position in Align Technology during the first quarter worth about $29,000. Trust Co. of Vermont bought a new stake in Align Technology during the second quarter worth approximately $39,000. Finally, Crewe Advisors LLC acquired a new stake in shares of Align Technology during the 1st quarter valued at $41,000. 88.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ALGN. OTR Global reiterated a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Stifel Nicolaus decreased their target price on Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Piper Sandler dropped their price target on Align Technology from $330.00 to $315.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Morgan Stanley dropped their target price on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.78.

Align Technology Trading Down 0.3 %

NASDAQ ALGN traded down $0.54 during trading on Monday, reaching $214.38. The company’s stock had a trading volume of 164,806 shares, compared to its average volume of 789,415. The stock has a market capitalization of $16.14 billion, a PE ratio of 35.41, a PEG ratio of 5.18 and a beta of 1.66. The business 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 1-year low of $176.34 and a 1-year high of $375.68.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) 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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $1.73 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, analysts expect that Align Technology, Inc. will post 7.64 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.