Rathbones Group PLC Has $3.48 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Rathbones Group PLC decreased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 43.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,395 shares of the medical equipment provider’s stock after selling 11,081 shares during the period. Rathbones Group PLC’s holdings in Align Technology were worth $3,475,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Gryphon Financial Partners LLC boosted its holdings in shares of Align Technology by 31.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,396 shares of the medical equipment provider’s stock valued at $383,000 after acquiring an additional 330 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Align Technology during the fourth quarter valued at about $199,000. Dimensional Fund Advisors LP grew its holdings in shares of Align Technology by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 213,667 shares of the medical equipment provider’s stock worth $58,548,000 after purchasing an additional 7,266 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Align Technology by 34.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 12,546 shares of the medical equipment provider’s stock valued at $3,438,000 after buying an additional 3,185 shares during the period. Finally, Norges Bank acquired a new position in shares of Align Technology in the fourth quarter valued at approximately $223,610,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ALGN. Morgan Stanley reduced their target price on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus decreased their price objective on Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Piper Sandler reaffirmed an “overweight” rating and set a $315.00 target price on shares of Align Technology in a research report on Friday. Robert W. Baird reduced their price target on Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Evercore ISI lowered their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $306.88.

Insiders Place Their Bets

In related news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Align Technology Price Performance

Shares of Align Technology stock opened at $243.73 on Monday. The stock’s 50-day moving average is $232.08 and its 200 day moving average is $266.08. Align Technology, Inc. has a one year low of $176.34 and a one year high of $335.73. The firm has a market cap of $18.35 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 5.13 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 EPS. On average, sell-side analysts expect 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.