Richard W. Paul & Associates LLC Acquires 105 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Richard W. Paul & Associates LLC lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,190 shares of the medical equipment provider’s stock after purchasing an additional 105 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Align Technology were worth $529,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mather Group LLC. bought a new position in shares of Align Technology during the first quarter worth approximately $26,000. Versant Capital Management Inc boosted 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 worth $27,000 after acquiring an additional 93 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Align Technology during the 1st quarter worth approximately $29,000. Blue Trust Inc. boosted its position in shares of Align Technology by 150.9% during the 2nd quarter. Blue Trust Inc. now owns 133 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 80 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new stake in shares of Align Technology during the 2nd quarter worth approximately $39,000. 88.43% of the stock is owned by institutional investors.

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were bought 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 in the company, valued at $6,647,366.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALGN. Morgan Stanley reduced their price target on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. OTR Global reiterated a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Robert W. Baird reduced their price target on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. StockNews.com lowered shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Piper Sandler reduced their price target on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $322.78.

Align Technology Stock Performance

Shares of NASDAQ:ALGN traded down $6.44 during mid-day trading on Thursday, reaching $228.69. 691,627 shares of the company’s stock were exchanged, compared to its average volume of 792,845. The firm has a market capitalization of $17.22 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 5.18 and a beta of 1.66. The business’s fifty day moving average price is $235.97 and its 200-day moving average price is $274.59. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $375.68.

Align Technology (NASDAQ:ALGN) last issued its quarterly 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 analyst estimates of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. Align Technology’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. Analysts predict that Align Technology, Inc. will post 7.64 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.