22,492 Shares in Align Technology, Inc. (NASDAQ:ALGN) Bought by AMF Tjanstepension AB

AMF Tjanstepension AB purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 22,492 shares of the medical equipment provider’s stock, valued at approximately $5,430,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its position in Align Technology by 0.8% in the 4th quarter. Arizona State Retirement System now owns 19,982 shares of the medical equipment provider’s stock valued at $5,475,000 after buying an additional 150 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in Align Technology in the 4th quarter valued at about $373,000. New York State Teachers Retirement System boosted its position in Align Technology by 5.1% in the 4th quarter. New York State Teachers Retirement System now owns 83,965 shares of the medical equipment provider’s stock valued at $23,006,000 after buying an additional 4,050 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Align Technology by 134.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 34,238 shares of the medical equipment provider’s stock valued at $9,529,000 after buying an additional 19,641 shares during the last quarter. Finally, Sabal Trust CO boosted its position in Align Technology by 55.8% in the 4th quarter. Sabal Trust CO now owns 4,293 shares of the medical equipment provider’s stock valued at $1,176,000 after buying an additional 1,538 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALGN. Piper Sandler decreased their price objective on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Monday. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Evercore ISI reduced their price target on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $322.78.

Align Technology Trading Down 1.1 %

NASDAQ ALGN traded down $2.33 during trading hours on Wednesday, reaching $204.03. The company’s stock had a trading volume of 742,779 shares, compared to its average volume of 792,614. The business has a 50-day simple moving average of $243.69 and a 200 day simple moving average of $278.26. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $375.68. The stock has a market cap of $15.36 billion, a PE ratio of 34.90, a PEG ratio of 5.18 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last issued its 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 net margin of 11.34% and a return on equity of 14.07%. Align Technology’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. As a group, equities analysts predict that Align Technology, Inc. will post 7.64 EPS for the current 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.