Swedbank AB Purchases 6,005 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Swedbank AB raised its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,115 shares of the medical equipment provider's stock after buying an additional 6,005 shares during the quarter. Swedbank AB owned 0.40% of Align Technology worth $72,215,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in Align Technology in the 1st quarter valued at $26,000. LRI Investments LLC bought a new stake in shares of Align Technology during the 1st quarter valued at $29,000. Versant Capital Management Inc lifted its position in shares of Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider's stock valued at $27,000 after acquiring an additional 93 shares during the period. Crewe Advisors LLC bought a new stake in shares of Align Technology during the 1st quarter valued at $41,000. Finally, Trust Co. of Vermont bought a new stake in shares of Align Technology during the 2nd quarter valued at $39,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Piper Sandler cut their target price on Align Technology from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Thursday, July 25th. Stifel Nicolaus cut their target price on Align Technology from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Thursday, July 25th. Evercore ISI cut their target price on Align Technology from $370.00 to $300.00 and set an "outperform" rating for the company in a research report on Monday, June 10th. Robert W. Baird dropped their price objective on Align Technology from $370.00 to $325.00 and set an "outperform" rating for the company in a research report on Monday, July 22nd. Finally, StockNews.com downgraded Align Technology from a "buy" rating to a "hold" rating in a research report on Friday. 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $322.78.

Align Technology Stock Up 2.1 %

Align Technology stock traded up $5.02 during trading hours on Friday, hitting $240.35. The stock had a trading volume of 1,028,745 shares, compared to its average volume of 797,120. The stock has a market cap of $18.09 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 5.18 and a beta of 1.66. Align Technology, Inc. has a one year low of $176.34 and a one year high of $375.68. The business's 50 day simple moving average is $238.16 and its 200-day simple moving average is $275.66.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The business's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. Research analysts anticipate that Align Technology, Inc. will post 7.64 EPS 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.