Midwest Professional Planners LTD. bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 610 shares of the medical equipment provider’s stock, valued at approximately $373,000.
A number of other institutional investors have also recently bought and sold shares of ALGN. Allred Capital Management LLC acquired a new position in Align Technology during the 1st quarter valued at about $27,000. Atlas Capital Advisors LLC lifted its stake in shares of Align Technology by 150.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 50 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 30 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Align Technology by 226.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 49 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 34 shares during the period. MBM Wealth Consultants LLC acquired a new stake in shares of Align Technology in the 1st quarter worth approximately $34,000. Finally, Stonebridge Capital Advisors LLC acquired a new stake in shares of Align Technology in the 1st quarter worth approximately $38,000. 83.32% of the stock is owned by hedge funds and other institutional investors.
Shares of ALGN stock traded down $7.32 during trading hours on Wednesday, reaching $699.13. 464 shares of the stock traded hands, compared to its average volume of 585,138. Align Technology, Inc. has a 1-year low of $297.44 and a 1-year high of $735.17. The business has a fifty day moving average price of $677.46 and a 200 day moving average price of $612.31. The firm has a market capitalization of $55.24 billion, a PE ratio of 80.46, a PEG ratio of 2.98 and a beta of 1.68.
A number of analysts have recently weighed in on ALGN shares. BNP Paribas started coverage on shares of Align Technology in a research note on Thursday, July 8th. They issued an “outperform” rating and a $790.00 price target for the company. Exane BNP Paribas began coverage on shares of Align Technology in a research note on Thursday, July 8th. They issued an “outperform” rating and a $790.00 price target for the company. Credit Suisse Group boosted their target price on shares of Align Technology from $715.00 to $732.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. William Blair reiterated an “outperform” rating on shares of Align Technology in a report on Thursday, July 29th. Finally, Stephens upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $600.00 to $700.00 in a report on Friday, July 9th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $680.71.
In other Align Technology news, SVP Emory Wright sold 6,404 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $706.58, for a total value of $4,524,938.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director C Raymond Larkin, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 14th. The stock was sold at an average price of $650.00, for a total transaction of $1,625,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,186 shares of company stock worth $18,568,508. Company insiders own 0.70% of the company’s stock.
Align Technology Profile
Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of invisalign full, teen, and assist products, and vivera retainers for treating malocclusion.
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