Scott & Selber Inc. grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,686 shares of the medical equipment provider’s stock after purchasing an additional 96 shares during the period. Scott & Selber Inc.’s holdings in Align Technology were worth $1,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Nicollet Investment Management Inc. increased its stake in shares of Align Technology by 0.5% in the 1st quarter. Nicollet Investment Management Inc. now owns 7,095 shares of the medical equipment provider’s stock valued at $2,017,000 after purchasing an additional 35 shares during the last quarter. Quantum Capital Management increased its stake in shares of Align Technology by 3.0% in the 1st quarter. Quantum Capital Management now owns 1,545 shares of the medical equipment provider’s stock valued at $439,000 after purchasing an additional 45 shares during the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Align Technology by 9.0% in the 1st quarter. Cornerstone Advisors Inc. now owns 633 shares of the medical equipment provider’s stock valued at $180,000 after purchasing an additional 52 shares during the last quarter. Foresight Wealth Management LLC increased its stake in shares of Align Technology by 5.5% in the 2nd quarter. Foresight Wealth Management LLC now owns 1,040 shares of the medical equipment provider’s stock valued at $285,000 after purchasing an additional 54 shares during the last quarter. Finally, ETF Managers Group LLC increased its stake in shares of Align Technology by 10.7% in the 1st quarter. ETF Managers Group LLC now owns 568 shares of the medical equipment provider’s stock valued at $162,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 83.14% of the company’s stock.

In related news, insider Joseph M. Hogan purchased 4,995 shares of Align Technology stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $199.83 per share, for a total transaction of $998,150.85. Following the transaction, the insider now owns 165,440 shares of the company’s stock, valued at approximately $33,059,875.20. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Warren S. Thaler sold 3,115 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $312.53, for a total value of $973,530.95. Following the completion of the sale, the director now owns 47,979 shares in the company, valued at approximately $14,994,876.87. The disclosure for this sale can be found here. Insiders sold a total of 46,723 shares of company stock worth $14,726,871 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

ALGN has been the topic of several recent analyst reports. Wolfe Research initiated coverage on Align Technology in a research note on Thursday, May 30th. They issued a “peer perform” rating on the stock. ValuEngine upgraded Align Technology from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Align Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Bank of America lowered Align Technology from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Finally, Credit Suisse Group reduced their price objective on Align Technology from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. One research 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. The stock has an average rating of “Buy” and an average price target of $297.91.

ALGN stock traded up $2.36 during midday trading on Tuesday, reaching $182.04. 33,316 shares of the stock were exchanged, compared to its average volume of 2,002,115. The company has a market cap of $14.64 billion, a PE ratio of 36.95, a PEG ratio of 1.50 and a beta of 1.95. Align Technology, Inc. has a 52 week low of $177.93 and a 52 week high of $398.88. The company has a quick ratio of 1.74, a current ratio of 1.85 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $246.03.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.13. The business had revenue of $600.70 million for the quarter, compared to analyst estimates of $599.86 million. Align Technology had a return on equity of 29.26% and a net margin of 19.06%. Align Technology’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. As a group, sell-side analysts expect that Align Technology, Inc. will post 5.03 EPS for the current year.

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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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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