Profund Advisors LLC Acquires 219 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Profund Advisors LLC raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.1% during the second quarter, Holdings Channel.com reports. The fund owned 4,489 shares of the medical equipment provider’s stock after buying an additional 219 shares during the period. Profund Advisors LLC’s holdings in Align Technology were worth $1,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ALGN. Raymond James Trust N.A. grew its position in shares of Align Technology by 39.4% during the first quarter. Raymond James Trust N.A. now owns 934 shares of the medical equipment provider’s stock valued at $407,000 after purchasing an additional 264 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Align Technology by 11.1% during the first quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical equipment provider’s stock valued at $78,911,000 after purchasing an additional 18,153 shares in the last quarter. Prudential PLC purchased a new position in shares of Align Technology during the first quarter valued at about $955,000. Cetera Investment Advisers grew its position in shares of Align Technology by 4.9% during the first quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock valued at $747,000 after purchasing an additional 80 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Align Technology by 17.1% during the first quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical equipment provider’s stock valued at $229,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ALGN. Morgan Stanley cut their price objective on Align Technology from $415.00 to $378.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Stifel Nicolaus dropped their price target on Align Technology from $430.00 to $390.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. Jefferies Financial Group lifted their price target on Align Technology from $367.00 to $400.00 in a research report on Thursday, July 27th. Evercore ISI dropped their price target on Align Technology from $400.00 to $320.00 in a research report on Wednesday, October 11th. Finally, OTR Global upgraded Align Technology from a “mixed” rating to a “positive” rating in a research report on Thursday, September 14th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $336.60.

Align Technology Stock Performance

Align Technology stock opened at $215.24 on Tuesday. The company has a 50 day moving average price of $257.33 and a 200-day moving average price of $307.45. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The company has a market capitalization of $16.49 billion, a PE ratio of 45.60, a P/E/G ratio of 1.70 and a beta of 1.58.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($0.24). Align Technology had a net margin of 9.53% and a return on equity of 12.66%. The company had revenue of $960.21 million for the quarter, compared to the consensus estimate of $994.60 million. On average, analysts forecast that Align Technology, Inc. will post 6.86 earnings per share for the current year.

Insider Activity

In other Align Technology news, CEO Joseph M. Hogan acquired 5,194 shares of Align Technology stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $192.50 per share, with a total value of $999,845.00. Following the completion of the purchase, the chief executive officer now directly owns 208,664 shares of the company’s stock, valued at approximately $40,167,820. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Align Technology news, CEO Joseph M. Hogan acquired 5,319 shares of Align Technology stock in a transaction that occurred on Tuesday, October 31st. The stock was bought at an average price of $188.00 per share, with a total value of $999,972.00. Following the completion of the purchase, the chief executive officer now directly owns 203,470 shares of the company’s stock, valued at approximately $38,252,360. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph M. Hogan acquired 5,194 shares of Align Technology stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $192.50 per share, with a total value of $999,845.00. Following the purchase, the chief executive officer now directly owns 208,664 shares of the company’s stock, valued at $40,167,820. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Align Technology 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, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).