Impax Asset Management Group plc Acquires 24,115 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Impax Asset Management Group plc boosted its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 26.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,057 shares of the medical equipment provider's stock after buying an additional 24,115 shares during the quarter. Impax Asset Management Group plc owned approximately 0.15% of Align Technology worth $29,007,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Achmea Investment Management B.V. increased its holdings in shares of Align Technology by 3.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider's stock valued at $2,495,000 after acquiring an additional 339 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Align Technology by 122.9% during the first quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider's stock worth $1,445,000 after purchasing an additional 2,430 shares during the period. Swedbank AB lifted its position in shares of Align Technology by 2.0% in the 2nd quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider's stock worth $72,215,000 after buying an additional 6,005 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of Align Technology in the 1st quarter valued at about $2,006,000. Finally, Cetera Investment Advisers grew its position in shares of Align Technology by 914.2% during the 1st quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider's stock valued at $4,140,000 after buying an additional 11,382 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

Insider Activity

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the stock in a transaction dated 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 acquisition, the director now owns 28,247 shares of the company's stock, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The acquisition was disclosed in a 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 Trading Up 0.6 %

Shares of Align Technology stock traded up $1.37 on Tuesday, reaching $212.15. 651,164 shares of the company were exchanged, compared to its average volume of 782,958. Align Technology, Inc. has a fifty-two week low of $186.01 and a fifty-two week high of $335.40. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of 36.20, a price-to-earnings-growth ratio of 4.93 and a beta of 1.65. The stock has a fifty day moving average price of $230.15 and a 200-day moving average price of $244.16.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $1.62 earnings per share. On average, equities analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research note on Monday. Robert W. Baird reduced their price objective on Align Technology from $325.00 to $276.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Evercore ISI reduced their price target on Align Technology from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Piper Sandler lowered their price target on Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Finally, Morgan Stanley dropped their price target on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $276.38.

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.