Diversified Trust Co increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 23.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,674 shares of the medical equipment provider’s stock after acquiring an additional 508 shares during the quarter. Diversified Trust Co’s holdings in Align Technology were worth $875,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ALGN. Cullen Frost Bankers Inc. purchased a new stake in shares of Align Technology in the second quarter worth $25,000. Ameritas Investment Company LLC purchased a new stake in shares of Align Technology in the first quarter worth $26,000. Allworth Financial LP purchased a new stake in shares of Align Technology in the second quarter worth $27,000. CX Institutional raised its position in shares of Align Technology by 93.6% in the third quarter. CX Institutional now owns 91 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Finally, Coastal Capital Group Inc. raised its position in shares of Align Technology by 51.3% in the second quarter. Coastal Capital Group Inc. now owns 121 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 41 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.

In other Align Technology news, Director Thomas M. Prescott sold 35,000 shares of Align Technology stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $301.83, for a total transaction of $10,564,050.00. Following the sale, the director now directly owns 114,860 shares of the company’s stock, valued at approximately $34,668,193.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph M. Hogan sold 5,700 shares of Align Technology stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $310.00, for a total value of $1,767,000.00. Following the sale, the chief executive officer now directly owns 194,036 shares in the company, valued at $60,151,160. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,252 shares of company stock worth $22,460,548. Insiders own 1.20% of the company’s stock.

ALGN has been the topic of a number of recent analyst reports. Barclays downgraded Align Technology from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $225.00 to $300.00 in a research report on Thursday, July 23rd. Piper Sandler raised their price target on Align Technology from $258.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, September 12th. TheStreet downgraded Align Technology from a “b-” rating to a “c+” rating in a research report on Wednesday, July 22nd. Finally, Bank of America downgraded Align Technology from a “neutral” rating to an “underperform” rating and set a $280.00 price target on the stock. in a research report on Monday, July 20th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $286.54.

NASDAQ ALGN opened at $336.52 on Friday. The stock has a market capitalization of $26.51 billion, a PE ratio of 15.65, a PEG ratio of 23.57 and a beta of 1.85. Align Technology, Inc. has a 1 year low of $127.88 and a 1 year high of $343.00. The business’s 50-day moving average is $318.78 and its 200 day moving average is $268.10.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, July 22nd. The medical equipment provider reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.06). The business had revenue of $352.31 million during the quarter, compared to the consensus estimate of $345.50 million. Align Technology had a return on equity of 81.50% and a net margin of 78.75%. During the same period in the previous year, the business earned $1.83 earnings per share. As a group, equities analysts anticipate that Align Technology, Inc. will post 1.15 EPS for the current year.

About Align Technology

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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