Sentry Investment Management LLC Sells 364 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Sentry Investment Management LLC reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 17.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,778 shares of the medical equipment provider’s stock after selling 364 shares during the quarter. Sentry Investment Management LLC’s holdings in Align Technology were worth $429,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. increased its position in shares of Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 94 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Align Technology in the 1st quarter worth $26,000. Innealta Capital LLC bought a new stake in shares of Align Technology in the 2nd quarter worth $26,000. Rothschild Investment LLC purchased a new position in shares of Align Technology in the second quarter worth $26,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Align Technology by 547.1% during the second 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 in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now owns 28,247 shares in the company, valued at $6,647,366.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.62% of the company’s stock.

Align Technology Stock Performance

Shares of Align Technology stock opened at $225.15 on Thursday. The stock’s fifty day moving average is $232.37 and its 200 day moving average is $267.39. Align Technology, Inc. has a one year low of $176.34 and a one year high of $335.73. The stock has a market cap of $16.95 billion, a P/E ratio of 37.09, a P/E/G ratio of 5.04 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. Analysts predict that Align Technology, Inc. will post 7.61 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on ALGN shares. Evercore ISI decreased their target price on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. StockNews.com downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Sunday, September 1st. Stifel Nicolaus dropped their target price 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 decreased their target price on shares of Align Technology from $330.00 to $315.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Robert W. Baird dropped their price target on Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $306.88.

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.