Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its position in Align Technology, Inc. (NASDAQ:ALGN) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,564 shares of the medical equipment provider’s stock after selling 102 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Align Technology were worth $6,655,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of Align Technology in the 1st quarter valued at about $26,000. LRI Investments LLC acquired a new stake in shares of Align Technology in the 1st quarter valued at about $29,000. Versant Capital Management Inc boosted its position in shares of Align Technology by 547.1% in the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 93 shares during the period. Crewe Advisors LLC acquired a new stake in shares of Align Technology in the 1st quarter valued at about $41,000. Finally, Blue Trust Inc. lifted its position in Align Technology by 150.9% during the 2nd quarter. Blue Trust Inc. now owns 133 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 80 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the firm’s 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 directly owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALGN shares. Evercore ISI decreased 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. Robert W. Baird decreased their price objective on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Stifel Nicolaus decreased their price objective on Align Technology from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, August 24th. Finally, OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $322.78.

Align Technology Price Performance

Align Technology stock traded up $0.13 during mid-day trading on Friday, hitting $235.28. 160,259 shares of the company were exchanged, compared to its average volume of 781,579. The business’s 50 day simple moving average is $234.91 and its two-hundred day simple moving average is $272.96. The company has a market capitalization of $17.71 billion, a P/E ratio of 39.65, a PEG ratio of 5.18 and a beta of 1.66. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $375.68.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. Align Technology’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 earnings per share. Equities research analysts predict that Align Technology, Inc. will post 7.64 earnings per share for the current year.

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, 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.