Virginia Retirement Systems ET AL Buys 500 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Virginia Retirement Systems ET AL grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,900 shares of the medical equipment provider’s stock after acquiring an additional 500 shares during the period. Virginia Retirement Systems ET AL’s holdings in Align Technology were worth $20,713,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wrapmanager Inc. grew its position in Align Technology by 0.8% in the 2nd quarter. Wrapmanager Inc. now owns 1,829 shares of the medical equipment provider’s stock worth $1,118,000 after purchasing an additional 15 shares during the period. Fieldpoint Private Securities LLC lifted its position in Align Technology by 5.5% during the second quarter. Fieldpoint Private Securities LLC now owns 290 shares of the medical equipment provider’s stock valued at $199,000 after acquiring an additional 15 shares during the last quarter. Glassman Wealth Services raised its holdings in shares of Align Technology by 6.8% during the second quarter. Glassman Wealth Services now owns 297 shares of the medical equipment provider’s stock worth $181,000 after purchasing an additional 19 shares during the last quarter. Wright Investors Service Inc. grew its position in shares of Align Technology by 1.6% in the second quarter. Wright Investors Service Inc. now owns 1,280 shares of the medical equipment provider’s stock valued at $782,000 after purchasing an additional 20 shares during the period. Finally, Endurance Wealth Management Inc. lifted its stake in shares of Align Technology by 2.9% in the second quarter. Endurance Wealth Management Inc. now owns 712 shares of the medical equipment provider’s stock worth $435,000 after buying an additional 20 shares in the last quarter. 83.32% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Julie Ann Coletti sold 782 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $710.00, for a total transaction of $555,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Warren S. Thaler sold 5,000 shares of Align Technology stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $711.54, for a total transaction of $3,557,700.00. Following the sale, the director now owns 29,092 shares in the company, valued at $20,700,121.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,686 shares of company stock worth $13,834,858. Insiders own 0.70% of the company’s stock.

Several research firms recently commented on ALGN. Credit Suisse Group upped their price target on shares of Align Technology from $715.00 to $732.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. Exane BNP Paribas assumed coverage on shares of Align Technology in a research report on Thursday, July 8th. They set an “outperform” rating and a $790.00 price target for the company. BNP Paribas assumed coverage on shares of Align Technology in a research note on Thursday, July 8th. They set an “outperform” rating and a $790.00 price objective on the stock. Piper Sandler boosted their price target on shares of Align Technology from $735.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, July 29th. Finally, William Blair reissued an “outperform” rating on shares of Align Technology in a research note on Thursday, July 29th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $680.71.

Shares of ALGN stock traded down $7.76 during mid-day trading on Thursday, reaching $588.46. 9,325 shares of the company’s stock traded hands, compared to its average volume of 583,663. The firm has a market capitalization of $46.50 billion, a PE ratio of 67.91, a price-to-earnings-growth ratio of 2.98 and a beta of 1.68. Align Technology, Inc. has a 12 month low of $322.87 and a 12 month high of $737.45. The firm has a 50 day moving average price of $692.42 and a two-hundred day moving average price of $633.35.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Tuesday, July 27th. The medical equipment provider reported $3.04 EPS for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.91. Align Technology had a net margin of 20.10% and a return on equity of 21.42%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $942.26 million. On average, research analysts anticipate that Align Technology, Inc. will post 9.1 earnings per share for the current year.

About Align Technology

Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of invisalign full, teen, and assist products, and vivera retainers for treating malocclusion.

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

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