MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires New Holdings in Align Technology, Inc. (NASDAQ:ALGN)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,933 shares of the medical equipment provider's stock, valued at approximately $2,157,000.

Other large investors have also added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in shares of Align Technology during the 1st quarter valued at about $26,000. Innealta Capital LLC purchased a new stake in Align Technology during the second quarter valued at approximately $26,000. Rothschild Investment LLC purchased a new stake in Align Technology during the second quarter valued at approximately $26,000. Versant Capital Management Inc boosted its stake 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 worth $27,000 after acquiring an additional 93 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Align Technology during the 1st quarter worth $29,000. Institutional investors own 88.43% of the company's stock.

Align Technology Trading Up 0.9 %

NASDAQ:ALGN traded up $2.07 during midday trading on Friday, hitting $237.22. 493,501 shares of the company traded hands, compared to its average volume of 795,747. The firm's fifty day moving average is $234.66 and its 200-day moving average is $272.11. The firm has a market capitalization of $17.86 billion, a P/E ratio of 39.08, a P/E/G ratio of 5.40 and a beta of 1.66. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $375.68.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts expect that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Analysts Set New Price Targets

ALGN has been the topic of a number of recent research reports. OTR Global reaffirmed a "mixed" rating on shares of Align Technology in a report on Tuesday, June 4th. Stifel Nicolaus decreased their price objective on Align Technology from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Thursday, July 25th. StockNews.com downgraded Align Technology from a "buy" rating to a "hold" rating in a research note on Sunday. Robert W. Baird reduced their target price on shares of Align Technology from $370.00 to $325.00 and set an "outperform" rating for the company in a report on Monday, July 22nd. Finally, Piper Sandler lowered their price target on shares of Align Technology from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $306.88.

Insiders Place Their Bets

In related news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the acquisition, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.62% of the company's stock.

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.