Argent Capital Management LLC Sells 1,687 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Argent Capital Management LLC reduced its position in Align Technology, Inc. (NASDAQ:ALGN) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,862 shares of the medical equipment provider’s stock after selling 1,687 shares during the quarter. Argent Capital Management LLC owned approximately 0.18% of Align Technology worth $32,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ALGN. Mather Group LLC. purchased a new stake in Align Technology in the 1st quarter worth $26,000. Versant Capital Management Inc boosted its stake in shares of Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 93 shares during the period. LRI Investments LLC purchased a new stake in shares of Align Technology during the first quarter worth about $29,000. Blue Trust Inc. raised its stake in Align Technology by 150.9% during the 2nd quarter. Blue Trust Inc. now owns 133 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 80 shares during the period. Finally, Trust Co. of Vermont purchased a new position in Align Technology in the 2nd quarter worth approximately $39,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

ALGN stock traded up $5.28 during midday trading on Friday, reaching $233.97. 549,901 shares of the company traded hands, compared to its average volume of 791,355. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 5.18 and a beta of 1.66. The business has a 50 day moving average of $235.53 and a 200-day moving average of $274.30. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $375.68.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. Align Technology’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts anticipate that Align Technology, Inc. will post 7.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI cut their price objective on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 10th. Stifel Nicolaus reduced their price target on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Piper Sandler dropped their price objective on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Robert W. Baird dropped their price target on Align Technology from $370.00 to $325.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $322.78.

Insider Activity 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 purchased at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares in the company, valued at approximately $6,647,366.51. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.62% of the stock is currently owned by insiders.

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.