Atomi Financial Group Inc. Purchases 356 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Atomi Financial Group Inc. increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 22.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,960 shares of the medical equipment provider’s stock after buying an additional 356 shares during the period. Atomi Financial Group Inc.’s holdings in Align Technology were worth $498,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bares Capital Management Inc. grew its holdings in Align Technology by 22.6% during the 4th quarter. Bares Capital Management Inc. now owns 567,710 shares of the medical equipment provider’s stock valued at $155,553,000 after purchasing an additional 104,799 shares during the last quarter. Brown Capital Management LLC increased its holdings in shares of Align Technology by 1.2% in the 4th quarter. Brown Capital Management LLC now owns 29,466 shares of the medical equipment provider’s stock valued at $8,074,000 after acquiring an additional 363 shares during the period. Harbert Fund Advisors Inc. purchased a new position in shares of Align Technology in the 4th quarter valued at $1,288,000. Able Wealth Management LLC bought a new position in shares of Align Technology in the 4th quarter worth $164,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Align Technology during the 4th quarter worth $86,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Needham & Company LLC assumed coverage on shares of Align Technology in a report on Thursday. They issued a “hold” rating on the stock. Stifel Nicolaus reduced their target price on Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Evercore ISI lowered their price target on Align Technology from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Tuesday. Robert W. Baird cut their price target on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $303.13.

Align Technology Price Performance

NASDAQ ALGN opened at $229.65 on Friday. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $335.40. The stock has a 50-day moving average of $233.48 and a two-hundred day moving average of $258.08. The company has a market cap of $17.29 billion, a P/E ratio of 37.83, a P/E/G ratio of 5.77 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Insider Activity at Align Technology

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $235.33 per share, with a total value 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 approximately $6,647,366.51. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.62% of the stock is owned by insiders.

Align Technology Company 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.