Richard W. Paul & Associates LLC Has $714,000 Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Richard W. Paul & Associates LLC grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 28.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,809 shares of the medical equipment provider’s stock after buying an additional 619 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Align Technology were worth $714,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. bought a new stake in Align Technology during the 1st quarter worth $26,000. LRI Investments LLC bought a new stake in shares of Align Technology during the first quarter worth about $29,000. Cullen Frost Bankers Inc. increased its stake in shares of 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 period. Rothschild Investment LLC bought a new position in Align Technology in the 2nd quarter valued at approximately $26,000. Finally, Innealta Capital LLC acquired a new stake in Align Technology during the 2nd quarter worth approximately $26,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

Shares of ALGN stock opened at $219.70 on Friday. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $335.40. The stock has a 50 day simple moving average of $234.57 and a two-hundred day simple moving average of $253.52. The company has a market cap of $16.54 billion, a P/E ratio of 36.19, a PEG ratio of 5.33 and a beta of 1.64.

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

Insider Activity

In other news, Director C Raymond Larkin, Jr. bought 6,500 shares of Align Technology stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALGN. Needham & Company LLC started coverage on shares of Align Technology in a research report on Thursday, October 10th. They issued a “hold” rating for the company. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. 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 report on Thursday, July 25th. Piper Sandler decreased their price target on Align Technology from $315.00 to $285.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Robert W. Baird cut their price objective 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 analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $291.25.

About Align Technology

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.