Brown Brothers Harriman & Co. lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 32.8% during the second quarter, HoldingsChannel reports. The fund owned 2,349 shares of the medical equipment provider’s stock after selling 1,146 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Align Technology were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Align Technology by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,821,063 shares of the medical equipment provider’s stock worth $4,167,670,000 after acquiring an additional 213,951 shares during the period. Alliancebernstein L.P. raised its stake in shares of Align Technology by 2.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,654,546 shares of the medical equipment provider’s stock valued at $1,010,928,000 after buying an additional 33,588 shares in the last quarter. Polen Capital Management LLC raised its position in Align Technology by 4.5% in the second quarter. Polen Capital Management LLC now owns 1,634,605 shares of the medical equipment provider’s stock worth $998,744,000 after purchasing an additional 69,980 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Align Technology by 1.3% during the first quarter. Janus Henderson Group PLC now owns 1,381,079 shares of the medical equipment provider’s stock valued at $747,906,000 after purchasing an additional 17,275 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Align Technology by 4.2% during the 1st quarter. Geode Capital Management LLC now owns 1,298,525 shares of the medical equipment provider’s stock worth $701,612,000 after buying an additional 52,280 shares during the period. Hedge funds and other institutional investors own 83.32% of the company’s stock.
NASDAQ:ALGN opened at $596.22 on Thursday. The stock has a market cap of $47.11 billion, a price-to-earnings ratio of 67.91, a PEG ratio of 2.98 and a beta of 1.68. The stock has a 50-day moving average price of $692.42 and a two-hundred day moving average price of $633.35. Align Technology, Inc. has a 1 year low of $322.87 and a 1 year high of $737.45.
ALGN has been the subject of a number of research analyst reports. Exane BNP Paribas began coverage on Align Technology in a report on Thursday, July 8th. They issued an “outperform” rating and a $790.00 price target for the company. BNP Paribas began coverage on shares of Align Technology in a research note on Thursday, July 8th. They issued an “outperform” rating and a $790.00 target price on the stock. Piper Sandler boosted their price target on shares of Align Technology from $735.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Stephens raised shares of Align Technology from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $600.00 to $700.00 in a research note on Friday, July 9th. Finally, Credit Suisse Group lifted their target price on shares of Align Technology from $715.00 to $732.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Align Technology presently has an average rating of “Buy” and an average price target of $680.71.
In other news, SVP Julie Ann Coletti sold 782 shares of Align Technology stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $710.00, for a total value of $555,220.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Warren S. Thaler sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $711.54, for a total transaction of $3,557,700.00. Following the completion of the transaction, the director now directly owns 29,092 shares of the company’s stock, valued at approximately $20,700,121.68. The disclosure for this sale can be found here. Insiders sold 19,686 shares of company stock valued at $13,834,858 in the last quarter. Corporate insiders own 0.70% of the company’s stock.
Align Technology Profile
Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of invisalign full, teen, and assist products, and vivera retainers for treating malocclusion.
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