Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 509 shares of the medical equipment provider’s stock after selling 36 shares during the quarter. Quadrant Capital Group LLC’s holdings in Align Technology were worth $221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CHICAGO TRUST Co NA increased its stake in shares of Align Technology by 27.1% during the 1st quarter. CHICAGO TRUST Co NA now owns 872 shares of the medical equipment provider’s stock valued at $380,000 after acquiring an additional 186 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Align Technology by 26.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 117,597 shares of the medical equipment provider’s stock worth $51,272,000 after purchasing an additional 24,438 shares in the last quarter. RDA Financial Network increased its position in Align Technology by 12.8% during the 1st quarter. RDA Financial Network now owns 3,926 shares of the medical equipment provider’s stock worth $1,712,000 after purchasing an additional 445 shares in the last quarter. Pacer Advisors Inc. increased its position in Align Technology by 33.4% during the 1st quarter. Pacer Advisors Inc. now owns 17,921 shares of the medical equipment provider’s stock worth $7,814,000 after purchasing an additional 4,488 shares in the last quarter. Finally, Sentinel Trust Co. LBA acquired a new stake in Align Technology during the 4th quarter worth approximately $282,000. Institutional investors and hedge funds own 88.17% of the company’s stock.

Insider Activity

In other news, Director C Raymond Larkin, Jr. acquired 1,000 shares of Align Technology stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average cost of $264.42 per share, for a total transaction of $264,420.00. Following the completion of the purchase, the director now directly owns 18,190 shares of the company’s stock, valued at approximately $4,809,799.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Stephens dropped their target price on shares of Align Technology from $500.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Morgan Stanley lowered their price objective on shares of Align Technology from $438.00 to $402.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Robert W. Baird lowered their price objective on shares of Align Technology from $450.00 to $410.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Stifel Nicolaus lowered their price objective on shares of Align Technology from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. Finally, Credit Suisse Group lowered their price objective on shares of Align Technology from $722.00 to $418.00 in a research report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $361.67.

Align Technology Trading Up 0.1 %

Align Technology stock opened at $293.89 on Friday. The stock has a market cap of $23.16 billion, a P/E ratio of 37.58, a price-to-earnings-growth ratio of 8.34 and a beta of 1.78. The stock has a 50 day moving average of $259.51 and a 200-day moving average of $359.91. Align Technology, Inc. has a 52 week low of $225.86 and a 52 week high of $737.45.

Align Technology (NASDAQ:ALGNGet Rating) last released its earnings results on Wednesday, July 27th. The medical equipment provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.23). The business had revenue of $969.60 million for the quarter, compared to analysts’ expectations of $986.05 million. Align Technology had a net margin of 15.52% and a return on equity of 17.47%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.51 earnings per share. As a group, equities analysts predict that Align Technology, Inc. will post 8.15 earnings per share for the current fiscal year.

Align Technology Profile

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Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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