Arcadia Investment Management Corp MI Purchases Shares of 1,400 Align Technology, Inc. (NASDAQ:ALGN)

Arcadia Investment Management Corp MI purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,400 shares of the medical equipment provider’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ALGN. First Trust Direct Indexing L.P. grew its position in Align Technology by 43.4% during the first quarter. First Trust Direct Indexing L.P. now owns 2,010 shares of the medical equipment provider’s stock valued at $659,000 after acquiring an additional 608 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Align Technology by 20.0% in the first quarter. Van ECK Associates Corp now owns 8,241 shares of the medical equipment provider’s stock worth $2,702,000 after purchasing an additional 1,372 shares during the last quarter. Norden Group LLC grew its holdings in shares of Align Technology by 86.9% in the first quarter. Norden Group LLC now owns 1,822 shares of the medical equipment provider’s stock worth $597,000 after purchasing an additional 847 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Align Technology by 81.4% in the first quarter. Private Advisor Group LLC now owns 2,262 shares of the medical equipment provider’s stock worth $742,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new position in shares of Align Technology in the first quarter worth approximately $416,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Up 1.7 %

Shares of ALGN stock opened at $208.58 on Friday. The stock has a fifty day moving average of $231.05 and a 200 day moving average of $245.79. Align Technology, Inc. has a 52 week low of $184.89 and a 52 week high of $335.40. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 4.98 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 earnings per share. Equities research analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Wall Street Analyst Weigh In

ALGN has been the topic of several recent analyst reports. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Stifel Nicolaus cut their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Morgan Stanley cut their target price on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, October 24th. Finally, Robert W. Baird cut their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $276.38.

Insider Buying and Selling at Align Technology

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.

Align Technology Company 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.