10,772 Shares in Align Technology, Inc. (NASDAQ:ALGN) Acquired by Virtu Financial LLC

Virtu Financial LLC acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,772 shares of the medical equipment provider’s stock, valued at approximately $2,601,000.

Other large investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. grew its holdings in shares of Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 94 shares during the period. Mather Group LLC. bought a new position in Align Technology during the first quarter worth about $26,000. Innealta Capital LLC bought a new stake in shares of Align Technology in the second quarter worth about $26,000. Rothschild Investment LLC acquired a new stake in shares of Align Technology during the second quarter worth about $26,000. Finally, Versant Capital Management Inc raised its position in shares of Align Technology by 547.1% during the second 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. Institutional investors own 88.43% of the company’s stock.

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 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, for a total transaction of $1,529,645.00. Following the purchase, the director now owns 28,247 shares in the company, valued at $6,647,366.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on ALGN shares. Robert W. Baird lowered their target price on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. OTR Global restated a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $315.00 target price on shares of Align Technology in a research note on Friday. Evercore ISI dropped their price target on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 10th. Finally, StockNews.com cut Align Technology from a “buy” rating to a “hold” rating in a research report on Sunday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $306.88.

Align Technology Stock Up 2.4 %

ALGN stock opened at $249.56 on Tuesday. The company has a market cap of $18.79 billion, a price-to-earnings ratio of 41.11, a P/E/G ratio of 5.13 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 business has a 50 day moving average price of $232.09 and a two-hundred day moving average price of $265.71.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 earnings per share. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Align Technology 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.