Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,823 shares of the medical equipment provider's stock after acquiring an additional 5,594 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.14% of Align Technology worth $25,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Moody National Bank Trust Division grew its position 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 purchasing an additional 38 shares in the last quarter. Mather Group LLC. grew 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 valued at $29,000 after buying an additional 42 shares in the last quarter. Crewe Advisors LLC grew its holdings in Align Technology by 36.8% during the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider's stock valued at $41,000 after buying an additional 46 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Align Technology by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider's stock valued at $2,143,000 after buying an additional 54 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Align Technology by 8.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 687 shares of the medical equipment provider's stock worth $166,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

Align Technology Stock Performance

Align Technology stock traded up $0.24 during mid-day trading on Monday, hitting $253.09. The company's stock had a trading volume of 81,890 shares, compared to its average volume of 771,565. Align Technology, Inc. has a one year low of $176.34 and a one year high of $335.40. The stock has a market cap of $19.05 billion, a PE ratio of 41.66, a P/E/G ratio of 5.13 and a beta of 1.64. The company has a 50 day moving average of $232.50 and a 200-day moving average of $264.34.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm's revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 EPS. On average, equities research analysts forecast that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Insider Activity at Align Technology

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares in the company, valued at approximately $6,647,366.51. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on ALGN. Morgan Stanley lowered 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 report on Thursday, July 25th. Stifel Nicolaus reduced 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. OTR Global reaffirmed a "mixed" rating on shares of Align Technology in a research note on Tuesday, June 4th. StockNews.com raised Align Technology from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Piper Sandler restated an "overweight" rating and issued a $315.00 price target on shares of Align Technology in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Align Technology has an average rating of "Moderate Buy" and an average target price 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.