Heritage Investors Management Corp Decreases Stake in Align Technology, Inc. (NASDAQ:ALGN)

Heritage Investors Management Corp cut its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,811 shares of the medical equipment provider’s stock after selling 380 shares during the quarter. Heritage Investors Management Corp’s holdings in Align Technology were worth $3,512,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake 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 buying an additional 25,362 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Align Technology by 1.4% during the second 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 purchasing an additional 15,540 shares during the last quarter. Ninety One UK Ltd raised its holdings in Align Technology by 1.0% during the second quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after purchasing an additional 10,919 shares during the last quarter. Bares Capital Management Inc. raised its holdings in Align Technology by 44.4% during the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after purchasing an additional 252,220 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in Align Technology by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock worth $170,822,000 after purchasing an additional 3,600 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Align Technology

In other Align Technology 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 stock was purchased at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.

Align Technology Stock Up 0.6 %

NASDAQ ALGN opened at $212.15 on Wednesday. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 36.20, a price-to-earnings-growth ratio of 4.93 and a beta of 1.65. The business has a fifty day moving average of $230.15 and a 200-day moving average of $244.16. Align Technology, Inc. has a fifty-two week low of $186.01 and a fifty-two week high of $335.40.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. As a group, analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird reduced their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Evercore ISI reduced their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Piper Sandler reduced their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Align Technology currently has an average rating of “Hold” and a consensus price target of $276.38.

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.