Dorsey Wright & Associates trimmed its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,410 shares of the medical equipment provider’s stock after selling 254 shares during the quarter. Dorsey Wright & Associates’ holdings in Align Technology were worth $2,312,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ALGN. Schroder Investment Management Group purchased a new position in shares of Align Technology during the 2nd quarter valued at approximately $104,000. CENTRAL TRUST Co increased its holdings in shares of Align Technology by 128.5% during the 2nd quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock valued at $105,000 after purchasing an additional 392 shares in the last quarter. Whittier Trust Co. purchased a new position in shares of Align Technology during the 3rd quarter valued at approximately $107,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after purchasing an additional 105 shares in the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in shares of Align Technology during the 2nd quarter valued at approximately $148,000. 80.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Align Technology, Inc. (NASDAQ ALGN) traded up $4.27 during midday trading on Tuesday, reaching $253.73. 952,400 shares of the company traded hands, compared to its average volume of 1,005,870. The stock has a market cap of $20,430.00, a price-to-earnings ratio of 73.81, a PEG ratio of 2.39 and a beta of 1.41. Align Technology, Inc. has a 12 month low of $88.56 and a 12 month high of $257.60.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The company had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. During the same quarter in the previous year, the company posted $0.63 EPS. The firm’s quarterly revenue was up 38.3% on a year-over-year basis. sell-side analysts anticipate that Align Technology, Inc. will post 3.62 EPS for the current fiscal year.
In other Align Technology news, Director Greg J. Santora sold 7,700 shares of Align Technology stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Raphael Pascaud sold 5,400 shares of Align Technology stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the sale, the chief marketing officer now directly owns 22,228 shares in the company, valued at approximately $5,376,508.64. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Several research firms have recently weighed in on ALGN. Credit Suisse Group reaffirmed a “positive” rating and set a $261.00 target price (up from $209.00) on shares of Align Technology in a report on Thursday, November 9th. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price for the company in a report on Monday, October 30th. Leerink Swann reaffirmed an “outperform” rating and set a $250.00 target price on shares of Align Technology in a report on Friday, October 27th. Robert W. Baird reaffirmed a “buy” rating and set a $245.00 target price on shares of Align Technology in a report on Friday, October 27th. Finally, Stifel Nicolaus lifted their target price on shares of Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Eleven analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $219.18.
Align Technology Company Profile
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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