Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC cut its stake in Align Technology, Inc. (NASDAQ:ALGN) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,152 shares of the medical equipment provider’s stock after selling 137 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Align Technology were worth $1,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sofinnova Investments Inc. increased its stake in shares of Align Technology by 128.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 218,524 shares of the medical equipment provider’s stock worth $52,758,000 after acquiring an additional 123,046 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Align Technology in the 2nd quarter worth $2,601,000. Citizens Financial Group Inc. RI increased its stake in shares of Align Technology by 186.9% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 3,058 shares of the medical equipment provider’s stock worth $738,000 after acquiring an additional 1,992 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Align Technology in the 2nd quarter worth $3,515,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Align Technology by 13.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 264,524 shares of the medical equipment provider’s stock worth $63,873,000 after acquiring an additional 31,948 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of research analyst reports. StockNews.com cut Align Technology from a “buy” rating to a “hold” rating in a report on Sunday, September 1st. Piper Sandler reiterated an “overweight” rating and set a $315.00 price target on shares of Align Technology in a report on Friday, September 13th. Robert W. Baird lowered their price target on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Evercore ISI lowered their price target on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 10th. Finally, OTR Global reiterated a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Hold” and an average price target of $306.88.

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. bought 6,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the transaction, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.62% of the company’s stock.

Align Technology Stock Performance

Shares of ALGN opened at $253.16 on Wednesday. The stock has a 50-day simple moving average of $232.21 and a 200-day simple moving average of $265.38. The stock has a market capitalization of $19.06 billion, a PE ratio of 41.71, a PEG ratio of 5.13 and a beta of 1.64. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company earned $1.73 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts predict that Align Technology, Inc. will post 7.61 EPS for the current year.

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.