Ameriprise Financial Inc. lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 11.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,469 shares of the medical equipment provider’s stock after selling 17,529 shares during the period. Ameriprise Financial Inc. owned approximately 0.17% of Align Technology worth $25,573,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Commonwealth Equity Services Inc grew its position in Align Technology by 40.2% in the 3rd quarter. Commonwealth Equity Services Inc now owns 5,147 shares of the medical equipment provider’s stock worth $958,000 after purchasing an additional 1,477 shares during the period. Ashfield Capital Partners LLC grew its position in Align Technology by 0.6% in the 3rd quarter. Ashfield Capital Partners LLC now owns 87,440 shares of the medical equipment provider’s stock worth $16,287,000 after purchasing an additional 491 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Align Technology by 4.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 52,887 shares of the medical equipment provider’s stock worth $9,851,000 after acquiring an additional 2,220 shares during the last quarter. IBM Retirement Fund purchased a new position in shares of Align Technology during the 3rd quarter worth $220,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Align Technology by 2.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 18,233 shares of the medical equipment provider’s stock worth $3,396,000 after acquiring an additional 480 shares during the last quarter. 83.91% of the stock is owned by institutional investors and hedge funds.
Align Technology, Inc. (NASDAQ ALGN) opened at $241.38 on Friday. The firm has a market cap of $19,190.00, a price-to-earnings ratio of 67.27, a PEG ratio of 2.17 and a beta of 1.43. Align Technology, Inc. has a one year low of $88.56 and a one year high of $266.41.
Align Technology (NASDAQ:ALGN) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $0.63 EPS. Align Technology’s revenue for the quarter was up 38.3% on a year-over-year basis. analysts expect that Align Technology, Inc. will post 3.62 earnings per share for the current year.
Several research analysts have recently weighed in on the stock. Robert W. Baird reiterated a “buy” rating and set a $290.00 price target on shares of Align Technology in a research note on Wednesday, November 29th. Goldman Sachs Group lifted their price target on shares of Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 15th. Credit Suisse Group reiterated an “outperform” rating and set a $276.00 price target (up previously from $261.00) on shares of Align Technology in a research note on Tuesday, November 28th. Stifel Nicolaus reiterated a “buy” rating and set a $225.00 price target (up previously from $205.00) on shares of Align Technology in a research note on Thursday, October 19th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $200.00 price target on shares of Align Technology in a research note on Monday, September 11th. Eleven research analysts have rated the stock with a buy rating, Align Technology presently has a consensus rating of “Buy” and an average price target of $235.55.
In related news, VP Emory Wright sold 5,025 shares of Align Technology stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the transaction, the vice president now owns 80,762 shares in the company, valued at approximately $21,295,324.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Lacob sold 29,724 shares of Align Technology stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $260.91, for a total transaction of $7,755,288.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,849 shares of company stock worth $13,494,348. 1.60% of the stock is owned by corporate insiders.
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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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