Ascent Wealth Partners LLC Increases Position in Align Technology, Inc. (NASDAQ:ALGN)

Ascent Wealth Partners LLC raised its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 407.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,515 shares of the medical equipment provider's stock after purchasing an additional 4,428 shares during the quarter. Ascent Wealth Partners LLC's holdings in Align Technology were worth $1,511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rhenman & Partners Asset Management AB purchased a new position in shares of Align Technology during the third quarter valued at approximately $305,000. Norges Bank purchased a new position in shares of Align Technology during the fourth quarter valued at approximately $150,692,000. Ameriprise Financial Inc. increased its stake in shares of Align Technology by 348.9% during the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider's stock valued at $230,938,000 after buying an additional 587,886 shares during the period. Penn Capital Management Company LLC purchased a new position in shares of Align Technology during the first quarter valued at approximately $52,560,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Align Technology by 481.8% during the first quarter. BNP Paribas Arbitrage SA now owns 188,512 shares of the medical equipment provider's stock valued at $82,191,000 after buying an additional 156,110 shares during the period. Institutional investors own 88.43% of the company's stock.

Insider Activity

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now owns 709 shares of the company's stock, valued at $203,802.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the transaction, the director now owns 131,994 shares of the company's stock, valued at $40,023,220.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Align Technology Stock Down 2.5 %

Shares of NASDAQ ALGN traded down $8.27 during trading on Monday, reaching $319.65. The company had a trading volume of 556,576 shares, compared to its average volume of 780,047. The stock has a market cap of $24.01 billion, a PE ratio of 54.92, a P/E/G ratio of 5.90 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The business's 50-day moving average is $300.96 and its 200 day moving average is $269.23.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. On average, analysts anticipate that Align Technology, Inc. will post 7.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALGN has been the topic of several recent research reports. Stifel Nicolaus upped their price target on Align Technology from $340.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, March 15th. UBS Group upped their price target on Align Technology from $200.00 to $260.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 30th. Piper Sandler upped their price target on Align Technology from $335.00 to $355.00 and gave the stock an "overweight" rating in a research note on Thursday, March 14th. Leerink Partnrs reaffirmed a "market perform" rating on shares of Align Technology in a research note on Monday, February 26th. Finally, SVB Leerink initiated coverage on Align Technology in a research note on Monday, February 26th. They issued a "market perform" rating and a $310.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $334.45.

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.