Crestwood Advisors Group LLC Purchases 62 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Crestwood Advisors Group LLC lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,000 shares of the medical equipment provider’s stock after purchasing an additional 62 shares during the period. Crestwood Advisors Group LLC’s holdings in Align Technology were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norden Group LLC increased its position in Align Technology by 86.9% in the 1st quarter. Norden Group LLC now owns 1,822 shares of the medical equipment provider’s stock valued at $597,000 after acquiring an additional 847 shares during the period. Private Advisor Group LLC increased its holdings in 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 valued at $742,000 after purchasing an additional 1,015 shares during the period. Whittier Trust Co. raised its position in Align Technology by 17.6% during the 1st quarter. Whittier Trust Co. now owns 561 shares of the medical equipment provider’s stock worth $184,000 after purchasing an additional 84 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Align Technology by 175.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 962 shares of the medical equipment provider’s stock worth $315,000 after buying an additional 613 shares during the period. Finally, Empirical Finance LLC grew its position in shares of Align Technology by 3.5% in the 1st quarter. Empirical Finance LLC now owns 2,599 shares of the medical equipment provider’s stock valued at $852,000 after buying an additional 87 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Transactions at Align Technology

In related news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.

Align Technology Stock Up 6.0 %

Shares of ALGN opened at $224.85 on Thursday. The stock has a market cap of $16.80 billion, a P/E ratio of 38.37, a P/E/G ratio of 4.93 and a beta of 1.65. The business’s fifty day moving average is $230.02 and its 200 day moving average is $244.03. Align Technology, Inc. has a 12-month low of $186.01 and a 12-month high of $335.40.

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

Wall Street Analysts Forecast Growth

ALGN has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus decreased their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Piper Sandler lowered their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Evercore ISI cut their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $276.38.

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.