Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Laurus Investment Counsel Inc.

Laurus Investment Counsel Inc. boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 29.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,565 shares of the medical equipment provider’s stock after purchasing an additional 9,380 shares during the quarter. Align Technology makes up about 5.5% of Laurus Investment Counsel Inc.’s investment portfolio, making the stock its 8th largest holding. Laurus Investment Counsel Inc. owned about 0.06% of Align Technology worth $10,571,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ALGN. Mather Group LLC. bought a new stake in Align Technology in the first quarter valued at $26,000. LRI Investments LLC bought a new stake in Align Technology in the first quarter valued at $29,000. Cullen Frost Bankers Inc. lifted its stake in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 94 shares during the last quarter. Rothschild Investment LLC bought a new stake in Align Technology in the second quarter valued at $26,000. Finally, Innealta Capital LLC bought a new stake in Align Technology in the second quarter valued at $26,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALGN. Morgan Stanley cut their target price on Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Stifel Nicolaus cut their price objective on shares of Align Technology from $350.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Evercore ISI cut their price objective on shares of Align Technology from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Needham & Company LLC started coverage on shares of Align Technology in a research report on Thursday, October 10th. They issued a “hold” rating on the stock. Finally, Robert W. Baird dropped their price target on Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. 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 stock presently has an average rating of “Hold” and an average price target of $291.25.

Align Technology Trading Up 0.3 %

NASDAQ:ALGN traded up $0.75 on Friday, hitting $216.77. 262,528 shares of the company’s stock traded hands, compared to its average volume of 765,336. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $335.40. The firm has a 50-day moving average price of $234.48 and a 200-day moving average price of $254.22. The company has a market cap of $16.32 billion, a PE ratio of 35.72, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64.

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, beating analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $1.73 EPS. Align Technology’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, research analysts forecast that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.62% of the company’s stock.

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.