Ground Swell Capital LLC Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Ground Swell Capital LLC purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,145 shares of the medical equipment provider’s stock, valued at approximately $276,000.

Several other large investors also recently made changes to their positions in ALGN. Vanguard Group Inc. lifted its holdings in shares of Align Technology by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock valued at $2,746,378,000 after purchasing an additional 25,362 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of Align Technology by 41.4% in the fourth quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider’s stock worth $413,488,000 after purchasing an additional 441,754 shares during the period. Bank of New York Mellon Corp grew its stake in Align Technology by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock worth $277,230,000 after buying an additional 15,540 shares in the last quarter. Ninety One UK Ltd increased its position in shares of Align Technology by 1.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock valued at $276,950,000 after purchasing an additional 10,919 shares during the last quarter. Finally, Bares Capital Management Inc. lifted its holdings in shares of Align Technology by 44.4% in the 1st quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after acquiring an additional 252,220 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler cut their target price on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Robert W. Baird reduced their price objective on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. StockNews.com downgraded Align Technology from a “buy” rating to a “hold” rating in a research note on Sunday, September 1st. OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, Evercore ISI reduced their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology has an average rating of “Hold” and a consensus price target of $306.88.

Get Our Latest Stock Analysis on Align Technology

Insider Buying and Selling at Align Technology

In related news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the acquisition, the director now directly owns 28,247 shares in the company, valued at $6,647,366.51. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Align Technology Stock Performance

NASDAQ ALGN opened at $227.15 on Wednesday. The business has a fifty day moving average price of $232.73 and a 200 day moving average price of $267.69. The company has a market cap of $17.10 billion, a P/E ratio of 37.42, a P/E/G ratio of 5.04 and a beta of 1.64. Align Technology, Inc. has a one year low of $176.34 and a one year high of $336.11.

Align Technology (NASDAQ:ALGNGet Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 EPS. As a group, sell-side analysts predict that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Align Technology Company Profile

(Free Report)

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.

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

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