United Capital Financial Advisers LLC Acquires 359 Shares of Align Technology, Inc. (NASDAQ:ALGN)

United Capital Financial Advisers LLC lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,420 shares of the medical equipment provider’s stock after acquiring an additional 359 shares during the period. United Capital Financial Advisers LLC’s holdings in Align Technology were worth $4,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALGN. BlackRock Inc. boosted its holdings in Align Technology by 11.0% during the first quarter. BlackRock Inc. now owns 6,373,398 shares of the medical equipment provider’s stock worth $2,778,802,000 after purchasing an additional 630,238 shares during the last quarter. Vanguard Group Inc. boosted its stake in Align Technology by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,946,834 shares of the medical equipment provider’s stock valued at $2,592,819,000 after acquiring an additional 75,255 shares during the last quarter. Polen Capital Management LLC boosted its stake in Align Technology by 5.3% in the first quarter. Polen Capital Management LLC now owns 1,871,737 shares of the medical equipment provider’s stock valued at $816,077,000 after acquiring an additional 94,539 shares during the last quarter. Wellington Management Group LLP boosted its stake in Align Technology by 23.0% in the first quarter. Wellington Management Group LLP now owns 1,798,137 shares of the medical equipment provider’s stock valued at $783,989,000 after acquiring an additional 336,781 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in Align Technology by 68.5% in the second quarter. Brown Advisory Inc. now owns 798,988 shares of the medical equipment provider’s stock valued at $189,097,000 after acquiring an additional 324,743 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Align Technology from $402.00 to $314.00 and set an “overweight” rating on the stock in a research note on Thursday, October 27th. Stifel Nicolaus dropped their target price on shares of Align Technology from $325.00 to $265.00 in a research note on Thursday, October 27th. Evercore ISI dropped their price target on shares of Align Technology from $310.00 to $285.00 in a research note on Thursday, July 28th. The Goldman Sachs Group dropped their price target on shares of Align Technology from $250.00 to $165.00 and set a “sell” rating on the stock in a research note on Thursday, October 27th. Finally, UBS Group dropped their price target on shares of Align Technology from $380.00 to $370.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average price target of $298.00.

Align Technology Trading Up 2.6 %

Align Technology stock opened at $196.28 on Thursday. The firm’s 50 day simple moving average is $208.52 and its 200 day simple moving average is $243.70. The firm has a market capitalization of $15.33 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 26.82 and a beta of 1.68. Align Technology, Inc. has a 1-year low of $172.05 and a 1-year high of $688.60.

Align Technology (NASDAQ:ALGNGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The medical equipment provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.58). The company had revenue of $890.35 million during the quarter, compared to the consensus estimate of $973.00 million. Align Technology had a return on equity of 14.39% and a net margin of 13.22%. Align Technology’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.28 EPS. Research analysts forecast that Align Technology, Inc. will post 5.81 earnings per share for the current year.

Insider Transactions at Align Technology

In related news, CEO Joseph M. Hogan purchased 10,600 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The shares were purchased at an average price of $188.58 per share, with a total value of $1,998,948.00. Following the acquisition, the chief executive officer now directly owns 185,401 shares of the company’s stock, valued at $34,962,920.58. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Align Technology news, Director Warren S. Thaler acquired 1,050 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The stock was bought at an average price of $191.21 per share, with a total value of $200,770.50. Following the purchase, the director now owns 30,666 shares of the company’s stock, valued at $5,863,645.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph M. Hogan purchased 10,600 shares of the company’s stock in a transaction on Wednesday, November 2nd. The shares were purchased at an average cost of $188.58 per share, with a total value of $1,998,948.00. Following the transaction, the chief executive officer now directly owns 185,401 shares in the company, valued at $34,962,920.58. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Align Technology Company 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.

See Also

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

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