Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,152 shares of the medical equipment provider’s stock after selling 137 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Align Technology were worth $1,727,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC increased its position in Align Technology by 11.3% during the fourth quarter. Parnassus Investments LLC now owns 396,603 shares of the medical equipment provider’s stock worth $108,669,000 after buying an additional 40,406 shares during the period. Achmea Investment Management B.V. increased its holdings in shares of Align Technology by 3.4% in the second quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock valued at $2,495,000 after purchasing an additional 339 shares during the period. Tidal Investments LLC increased its holdings in shares of Align Technology by 122.9% in the first quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock valued at $1,445,000 after purchasing an additional 2,430 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Align Technology in the fourth quarter valued at approximately $1,197,000. Finally, Norden Group LLC increased its holdings in shares of Align Technology by 3,647.7% in the first quarter. Norden Group LLC now owns 36,540 shares of the medical equipment provider’s stock valued at $11,982,000 after purchasing an additional 35,565 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director C Raymond Larkin, Jr. bought 6,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the transaction, the director now owns 28,247 shares in the company, valued at $6,647,366.51. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ALGN shares. 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. Robert W. Baird dropped their target price on Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Piper Sandler reissued an “overweight” rating and issued a $315.00 target price on shares of Align Technology in a report on Friday, September 13th. Evercore ISI decreased 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, Stifel Nicolaus decreased their price target on Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $306.88.

Align Technology Stock Performance

ALGN opened at $253.16 on Wednesday. The business’s fifty day moving average is $232.21 and its two-hundred day moving average is $265.38. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 5.13 and a beta of 1.64. Align Technology, Inc. has a one year low of $176.34 and a one year high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 earnings per share. On average, analysts predict that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Align Technology Company 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.