Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Argent Capital Management LLC

Argent Capital Management LLC lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,261 shares of the medical equipment provider’s stock after selling 10,601 shares during the quarter. Argent Capital Management LLC owned about 0.17% of Align Technology worth $31,602,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ALGN. Mather Group LLC. bought a new position in Align Technology during the first quarter worth $26,000. LRI Investments LLC acquired a new position in Align Technology in the first quarter valued at approximately $29,000. Cullen Frost Bankers Inc. grew its holdings in shares of Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 94 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Align Technology during the 2nd quarter worth approximately $26,000. Finally, Innealta Capital LLC acquired a new position in Align Technology during the 2nd quarter valued at approximately $26,000. Institutional investors own 88.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the acquisition, the director now directly owns 28,247 shares of the company’s stock, valued at $6,647,366.51. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ALGN has been the topic of a number of recent research reports. Stifel Nicolaus cut their target price on Align Technology from $350.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Robert W. Baird reduced their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday. Piper Sandler cut their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley reduced their price objective on Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $281.38.

Align Technology Stock Up 7.0 %

NASDAQ ALGN traded up $14.62 on Thursday, reaching $222.28. 1,025,632 shares of the stock traded hands, compared to its average volume of 773,615. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $335.40. The firm’s fifty day simple moving average is $234.20 and its 200 day simple moving average is $250.96. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 36.65, a P/E/G ratio of 5.33 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The firm had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. During the same period in the previous year, the company earned $1.62 earnings per share. Align Technology’s revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.61 EPS for the current fiscal 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.