Align Technology, Inc. (NASDAQ:ALGN) Stock Holdings Boosted by APG Asset Management N.V.

APG Asset Management N.V. lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 10.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,202 shares of the medical equipment provider’s stock after buying an additional 3,701 shares during the period. APG Asset Management N.V.’s holdings in Align Technology were worth $9,056,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. lifted its position in shares of Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 94 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Align Technology in the 1st quarter valued at $26,000. Innealta Capital LLC purchased a new position in Align Technology in the 2nd quarter worth about $26,000. Rothschild Investment LLC purchased a new position in Align Technology in the 2nd quarter worth about $26,000. Finally, Versant Capital Management Inc raised its holdings in 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 buying an additional 93 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

ALGN has been the topic of several analyst reports. Evercore ISI dropped their target price 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. Stifel Nicolaus lowered their price objective on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Morgan Stanley dropped their price target on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, Piper Sandler restated an “overweight” rating and set a $315.00 price objective on shares of Align Technology in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $306.88.

Insider Activity at Align Technology

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired 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 of the company’s stock, valued at approximately $6,647,366.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is owned by insiders.

Align Technology Trading Up 2.1 %

Shares of NASDAQ ALGN opened at $254.81 on Monday. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $335.40. The firm has a market capitalization of $19.18 billion, a PE ratio of 41.98, a price-to-earnings-growth ratio of 5.77 and a beta of 1.64. The firm’s 50-day moving average is $232.67 and its 200-day moving average is $262.12.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

Align Technology Company 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.