CANADA LIFE ASSURANCE Co Has $28.08 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

CANADA LIFE ASSURANCE Co lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 18.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,592 shares of the medical equipment provider’s stock after selling 18,824 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.11% of Align Technology worth $28,081,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Mather Group LLC. bought a new stake in Align Technology during the first quarter valued at $26,000. Lindbrook Capital LLC boosted its position in shares of Align Technology by 47.2% during the 1st quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock worth $61,000 after purchasing an additional 60 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Align Technology by 97.2% during the 4th quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock worth $77,000 after purchasing an additional 138 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of Align Technology during the 4th quarter worth about $86,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Align Technology by 61.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 328 shares of the medical equipment provider’s stock worth $90,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 7.7 %

Shares of ALGN stock opened at $226.05 on Friday. The company has a 50 day moving average of $250.05 and a 200-day moving average of $280.94. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The firm has a market cap of $17.02 billion, a P/E ratio of 37.24, a PEG ratio of 4.55 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.10%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $1.73 EPS. Align Technology’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts expect that Align Technology, Inc. will post 7.84 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on ALGN shares. Morgan Stanley dropped 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. Robert W. Baird dropped their price target on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday. Evercore ISI dropped 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. Piper Sandler dropped their price target on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus dropped their price target 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $330.50.

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.