Versor Investments LP Has $1.72 Million Position in Align Technology, Inc. (NASDAQ:ALGN)

Versor Investments LP boosted its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 385.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,139 shares of the medical equipment provider's stock after purchasing an additional 5,668 shares during the quarter. Versor Investments LP's holdings in Align Technology were worth $1,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mather Group LLC. bought a new stake in shares of Align Technology in the 1st quarter worth about $26,000. Innealta Capital LLC purchased a new stake in Align Technology in the 2nd quarter valued at about $26,000. Rothschild Investment LLC purchased a new stake in shares of Align Technology in the 2nd quarter worth $26,000. Versant Capital Management Inc lifted 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 purchasing an additional 93 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Align Technology in the first quarter valued at about $29,000. Institutional investors own 88.43% of the company's stock.

Align Technology Stock Performance

Align Technology stock traded up $2.07 during trading on Monday, hitting $237.22. The company's stock had a trading volume of 493,500 shares, compared to its average volume of 783,563. The stock's fifty day moving average is $234.66 and its 200 day moving average is $271.38. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $375.68. The stock has a market capitalization of $17.86 billion, a price-to-earnings ratio of 39.08, a P/E/G ratio of 5.40 and a beta of 1.66.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced 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 net margin of 11.34% and a return on equity of 14.07%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm posted $1.73 EPS. The company's revenue was up 2.6% on a year-over-year basis. On average, research analysts anticipate that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Insider Buying and Selling at Align Technology

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the company's stock in a transaction on Thursday, August 15th. The stock was bought 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 directly owns 28,247 shares of the company's stock, valued at approximately $6,647,366.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. OTR Global restated a "mixed" rating on shares of Align Technology in a research note on Tuesday, June 4th. Robert W. Baird decreased their price target on Align Technology from $370.00 to $325.00 and set an "outperform" rating on the stock in a research note on Monday, July 22nd. Piper Sandler decreased their price target on Align Technology from $330.00 to $315.00 and set an "overweight" rating on the stock in a research note on Thursday, July 25th. StockNews.com downgraded shares of Align Technology from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Evercore ISI lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $306.88.

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.