16,710 Shares in Align Technology, Inc. (NASDAQ:ALGN) Acquired by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,710 shares of the medical equipment provider's stock, valued at approximately $4,250,000.

A number of other large investors have also made changes to their positions in ALGN. Mather Group LLC. boosted its stake in shares of Align Technology by 52.5% during the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider's stock worth $29,000 after buying an additional 42 shares during the last quarter. Quarry LP increased its holdings in shares of Align Technology by 53.0% during the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider's stock worth $31,000 after acquiring an additional 44 shares during the last quarter. Crewe Advisors LLC raised its stake in Align Technology by 36.8% in the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider's stock valued at $41,000 after acquiring an additional 46 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Align Technology by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider's stock valued at $2,143,000 after purchasing an additional 54 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in Align Technology by 5.6% during the third quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider's stock worth $265,000 after purchasing an additional 55 shares during the period. Institutional investors own 88.43% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on ALGN shares. Piper Sandler reduced their target price on shares of Align Technology from $285.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a report on Monday, November 4th. Morgan Stanley decreased their price target on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus cut their price objective on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Align Technology from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Align Technology presently has a consensus rating of "Hold" and a consensus target price of $276.38.

Align Technology Trading Up 2.1 %

Align Technology stock traded up $4.73 during midday trading on Monday, reaching $225.24. The company's stock had a trading volume of 665,280 shares, compared to its average volume of 1,039,795. The stock has a market cap of $16.81 billion, a PE ratio of 38.44, a price-to-earnings-growth ratio of 5.71 and a beta of 1.65. Align Technology, Inc. has a 52 week low of $190.75 and a 52 week high of $335.40. The business has a 50-day moving average price of $229.43 and a 200-day moving average price of $242.34.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same period in the prior year, the business earned $1.62 earnings per share. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts predict that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the purchase, the director now directly owns 28,247 shares of the company's stock, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.62% of the company's stock.

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.