Ashburton Jersey Ltd Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Ashburton Jersey Ltd acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,761 shares of the medical equipment provider's stock, valued at approximately $898,000. Align Technology comprises about 0.4% of Ashburton Jersey Ltd's portfolio, making the stock its 24th biggest holding.

Several other large investors have also recently bought and sold shares of ALGN. Mather Group LLC. bought a new position in shares of Align Technology during the 1st quarter valued at about $26,000. LRI Investments LLC bought a new stake in Align Technology in the 1st quarter valued at $29,000. Cullen Frost Bankers Inc. boosted its stake in Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 94 shares during the period. Rothschild Investment LLC bought a new position in Align Technology during the 2nd quarter worth about $26,000. Finally, Innealta Capital LLC acquired a new stake in shares of Align Technology in the 2nd quarter valued at about $26,000. Institutional investors own 88.43% of the company's stock.

Align Technology Stock Performance

Shares of ALGN traded down $2.12 during mid-day trading on Thursday, reaching $235.94. 354,632 shares of the company were exchanged, compared to its average volume of 765,166. The stock has a market capitalization of $17.76 billion, a PE ratio of 39.22, a PEG ratio of 5.77 and a beta of 1.64. The business has a 50 day simple moving average of $232.53 and a two-hundred day simple moving average of $261.04. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly 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. The business had revenue of $1.03 billion during 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%. Align Technology'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, analysts predict that Align Technology, Inc. will post 7.61 EPS for the current year.

Insider Buying and Selling at Align Technology

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, for a total transaction 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 document filed with the SEC, which is accessible through this link. Insiders own 0.62% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Evercore ISI reduced 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. Piper Sandler reaffirmed an "overweight" rating and set a $315.00 price target on shares of Align Technology in a research note on Friday, September 13th. 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. Morgan Stanley decreased their target price 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. Finally, Robert W. Baird decreased their target price on shares of Align Technology from $370.00 to $325.00 and set an "outperform" rating for the company in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Align Technology currently has a consensus rating of "Moderate Buy" and a consensus 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.