300 Shares in Align Technology, Inc. (NASDAQ:ALGN) Purchased by Mizuho Securities Co. Ltd.

Mizuho Securities Co. Ltd. bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 300 shares of the medical equipment provider’s stock, valued at approximately $72,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mather Group LLC. bought a new stake in shares of Align Technology during the 1st quarter valued at approximately $26,000. Innealta Capital LLC bought a new stake in shares of Align Technology during the 2nd quarter valued at approximately $26,000. Rothschild Investment LLC bought a new stake in shares of Align Technology during the 2nd quarter valued at approximately $26,000. Versant Capital Management Inc grew its holdings in shares of Align Technology by 547.1% during the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 93 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Align Technology during the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of Align Technology stock traded up $2.07 during trading on Friday, reaching $237.22. 493,501 shares of the company traded hands, compared to its average volume of 795,747. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $375.68. The company has a 50 day moving average price of $234.66 and a 200-day moving average price of $272.11. The firm has a market capitalization of $17.86 billion, a PE ratio of 39.08, a P/E/G ratio of 5.40 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company earned $1.73 EPS. Align Technology’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts expect that Align Technology, Inc. will post 7.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus decreased 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. OTR Global reissued a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Piper Sandler reduced their target price on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Morgan Stanley reduced their target price on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of Align Technology from a “buy” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $306.88.

Insiders Place Their Bets

In other news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought 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 directly owns 28,247 shares in the company, valued at approximately $6,647,366.51. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

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.