Veracity Capital LLC Invests $390,000 in Align Technology, Inc. (NASDAQ:ALGN)

Veracity Capital LLC acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 3rd quarter, HoldingsChannel reports. The fund acquired 586 shares of the medical equipment provider’s stock, valued at approximately $390,000.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Align Technology by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,821,063 shares of the medical equipment provider’s stock worth $4,167,670,000 after acquiring an additional 213,951 shares in the last quarter. State Street Corp boosted its position in shares of Align Technology by 4.2% during the 2nd quarter. State Street Corp now owns 2,979,824 shares of the medical equipment provider’s stock worth $1,820,672,000 after acquiring an additional 119,153 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Align Technology by 2.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,654,546 shares of the medical equipment provider’s stock worth $1,010,928,000 after acquiring an additional 33,588 shares in the last quarter. Polen Capital Management LLC boosted its position in shares of Align Technology by 4.5% during the 2nd quarter. Polen Capital Management LLC now owns 1,634,605 shares of the medical equipment provider’s stock worth $998,744,000 after acquiring an additional 69,980 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Align Technology by 13.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,290,373 shares of the medical equipment provider’s stock valued at $788,418,000 after purchasing an additional 148,469 shares during the period. 83.80% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on ALGN. Credit Suisse Group upped their target price on Align Technology from $715.00 to $732.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. William Blair reissued an “outperform” rating on shares of Align Technology in a research report on Monday, November 1st. The Goldman Sachs Group cut Align Technology to a “buy” rating and set a $810.00 target price for the company. in a research report on Thursday, October 28th. Finally, Piper Sandler upped their target price on Align Technology from $775.00 to $825.00 and gave the company an “overweight” rating in a research report on Thursday, October 28th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $723.46.

ALGN opened at $653.20 on Thursday. The business has a 50 day moving average price of $659.91 and a two-hundred day moving average price of $646.95. The company has a market cap of $51.51 billion, a PE ratio of 70.24, a P/E/G ratio of 3.49 and a beta of 1.57. Align Technology, Inc. has a 52 week low of $465.76 and a 52 week high of $737.45.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Tuesday, October 26th. The medical equipment provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.27. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $977.81 million. Align Technology had a return on equity of 21.88% and a net margin of 19.70%. The company’s revenue for the quarter was up 38.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 EPS. Analysts predict that Align Technology, Inc. will post 9.04 earnings per share for the current fiscal year.

In related news, Director Warren S. Thaler sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $703.06, for a total value of $3,515,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John Morici sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $699.08, for a total value of $2,097,240.00. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Align Technology Company Profile

Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of invisalign full, teen, and assist products, and vivera retainers for treating malocclusion.

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

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