Davidson Investment Advisors Acquires 3,778 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Davidson Investment Advisors grew its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,073 shares of the medical equipment provider's stock after purchasing an additional 3,778 shares during the quarter. Davidson Investment Advisors owned about 0.06% of Align Technology worth $10,641,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Moody National Bank Trust Division raised its holdings in shares of Align Technology by 1.8% during the first quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider's stock worth $691,000 after acquiring an additional 38 shares during the period. Mather Group LLC. increased its holdings in 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 purchasing an additional 42 shares in the last quarter. Crewe Advisors LLC raised its stake in shares of 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 purchasing an additional 46 shares during the period. Czech National Bank lifted its holdings in shares of Align Technology by 0.5% in the first quarter. Czech National Bank now owns 12,532 shares of the medical equipment provider's stock valued at $4,109,000 after purchasing an additional 57 shares in the last quarter. Finally, Wedmont Private Capital boosted its position in shares of Align Technology by 4.8% during the first quarter. Wedmont Private Capital now owns 1,250 shares of the medical equipment provider's stock worth $413,000 after buying an additional 57 shares during the period. Institutional investors own 88.43% of the company's stock.

Insiders Place Their Bets

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now directly owns 28,247 shares of the company's stock, valued at approximately $6,647,366.51. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.62% of the company's stock.

Align Technology Stock Performance

ALGN traded up $2.07 on Friday, reaching $237.22. The company had a trading volume of 493,501 shares, compared to its average volume of 783,563. The company's fifty day moving average is $234.66 and its 200 day moving average is $272.25. The stock has a market cap of $17.86 billion, a P/E ratio of 39.08, a P/E/G ratio of 5.18 and a beta of 1.66. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $375.68.

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

Analyst Ratings Changes

ALGN has been the subject of a number of recent research reports. Piper Sandler reduced their price target 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 price objective 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, July 25th. Robert W. Baird lowered 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 note on Monday, July 22nd. Morgan Stanley reduced their price objective on shares of Align Technology from $328.00 to $310.00 and set an "overweight" rating for the company in a research note on Thursday, July 25th. Finally, Evercore ISI lowered their target price on Align Technology from $370.00 to $300.00 and set an "outperform" rating on the stock in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Align Technology currently has an average rating of "Moderate Buy" and an average price target of $306.88.

About Align Technology

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.