Ossiam Sells 2,122 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Ossiam trimmed its stake in Align Technology, Inc. (NASDAQ:ALGN) by 34.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,033 shares of the medical equipment provider’s stock after selling 2,122 shares during the quarter. Ossiam’s holdings in Align Technology were worth $2,806,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wrapmanager Inc. boosted its holdings in Align Technology by 0.8% in the second quarter. Wrapmanager Inc. now owns 1,829 shares of the medical equipment provider’s stock worth $1,118,000 after acquiring an additional 15 shares in the last quarter. Fieldpoint Private Securities LLC lifted its holdings in shares of Align Technology by 5.5% during the second quarter. Fieldpoint Private Securities LLC now owns 290 shares of the medical equipment provider’s stock valued at $199,000 after purchasing an additional 15 shares in the last quarter. Glassman Wealth Services lifted its holdings in shares of Align Technology by 6.8% during the second quarter. Glassman Wealth Services now owns 297 shares of the medical equipment provider’s stock valued at $181,000 after purchasing an additional 19 shares in the last quarter. Wright Investors Service Inc. lifted its holdings in shares of Align Technology by 1.6% during the second quarter. Wright Investors Service Inc. now owns 1,280 shares of the medical equipment provider’s stock valued at $782,000 after purchasing an additional 20 shares in the last quarter. Finally, Endurance Wealth Management Inc. lifted its holdings in shares of Align Technology by 2.9% during the second quarter. Endurance Wealth Management Inc. now owns 712 shares of the medical equipment provider’s stock valued at $435,000 after purchasing an additional 20 shares in the last quarter. 83.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:ALGN traded down $7.97 during trading on Thursday, hitting $588.25. 4,615 shares of the company’s stock were exchanged, compared to its average volume of 583,663. Align Technology, Inc. has a 52-week low of $322.87 and a 52-week high of $737.45. The business’s 50-day simple moving average is $692.42 and its 200 day simple moving average is $633.35. The company has a market cap of $46.48 billion, a price-to-earnings ratio of 67.91, a PEG ratio of 2.98 and a beta of 1.68.

Align Technology (NASDAQ:ALGN) last released its earnings results on Tuesday, July 27th. The medical equipment provider reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.91. Align Technology had a return on equity of 21.42% and a net margin of 20.10%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $942.26 million. Research analysts expect that Align Technology, Inc. will post 9.1 EPS for the current fiscal year.

In other news, Director Warren S. Thaler sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $711.54, for a total value of $3,557,700.00. Following the sale, the director now directly owns 29,092 shares in the company, valued at $20,700,121.68. The sale 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 stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $675.00, for a total value of $1,687,500.00. Following the completion of the sale, the director now owns 18,667 shares in the company, valued at $12,600,225. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,686 shares of company stock valued at $13,834,858. 0.70% of the stock is owned by corporate insiders.

ALGN has been the topic of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Align Technology in a report on Thursday, July 29th. BNP Paribas began coverage on Align Technology in a report on Thursday, July 8th. They set an “outperform” rating and a $790.00 price target on the stock. Piper Sandler upped their price objective on Align Technology from $735.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, July 29th. Exane BNP Paribas began coverage on Align Technology in a research report on Thursday, July 8th. They set an “outperform” rating and a $790.00 price objective for the company. Finally, Stephens upgraded Align Technology from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $600.00 to $700.00 in a research report on Friday, July 9th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $680.71.

Align Technology Company 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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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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