Foresight Wealth Management LLC lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 5.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,040 shares of the medical equipment provider’s stock after purchasing an additional 54 shares during the quarter. Foresight Wealth Management LLC’s holdings in Align Technology were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Nicollet Investment Management Inc. boosted its position in Align Technology by 0.5% during the 1st quarter. Nicollet Investment Management Inc. now owns 7,095 shares of the medical equipment provider’s stock worth $2,017,000 after acquiring an additional 35 shares during the period. Quantum Capital Management boosted its position in Align Technology by 3.0% during the 1st quarter. Quantum Capital Management now owns 1,545 shares of the medical equipment provider’s stock worth $439,000 after acquiring an additional 45 shares during the period. Cornerstone Advisors Inc. boosted its position in Align Technology by 9.0% during the 1st quarter. Cornerstone Advisors Inc. now owns 633 shares of the medical equipment provider’s stock worth $180,000 after acquiring an additional 52 shares during the period. Thrivent Financial for Lutherans boosted its position in Align Technology by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,152 shares of the medical equipment provider’s stock worth $660,000 after acquiring an additional 55 shares during the period. Finally, ETF Managers Group LLC boosted its position in Align Technology by 10.7% during the 1st quarter. ETF Managers Group LLC now owns 568 shares of the medical equipment provider’s stock worth $162,000 after acquiring an additional 55 shares during the period. Institutional investors and hedge funds own 82.71% of the company’s stock.
Shares of Align Technology stock opened at $188.37 on Tuesday. The firm’s 50-day moving average price is $260.67. The company has a current ratio of 1.85, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. Align Technology, Inc. has a 52-week low of $177.93 and a 52-week high of $398.88. The firm has a market cap of $15.92 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 1.63 and a beta of 1.95.
In related news, CFO John Morici sold 2,374 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $286.91, for a total value of $681,124.34. Following the transaction, the chief financial officer now directly owns 2,913 shares of the company’s stock, valued at approximately $835,768.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Raphael Pascaud sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $326.18, for a total value of $4,892,700.00. Following the completion of the transaction, the chief marketing officer now directly owns 34,092 shares in the company, valued at $11,120,128.56. The disclosure for this sale can be found here. Insiders sold a total of 55,283 shares of company stock worth $17,483,871 over the last three months. 1.30% of the stock is owned by company insiders.
A number of brokerages have commented on ALGN. Piper Jaffray Companies set a $240.00 price objective on Align Technology and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Credit Suisse Group reduced their price target on Align Technology from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Guggenheim assumed coverage on Align Technology in a report on Wednesday, April 17th. They set a “buy” rating and a $335.00 price target for the company. Wolfe Research assumed coverage on Align Technology in a report on Thursday, May 30th. They set a “peer perform” rating for the company. Finally, UBS Group set a $230.00 price target on Align Technology and gave the company a “hold” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. Align Technology has a consensus rating of “Buy” and a consensus price target of $297.91.
Align Technology Company Profile
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
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