YHB Investment Advisors Inc. purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 2,547 shares of the medical equipment provider’s stock, valued at approximately $533,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC grew its stake in Align Technology by 251.6% during the 2nd quarter. FMR LLC now owns 1,705,510 shares of the medical equipment provider’s stock valued at $583,523,000 after acquiring an additional 1,220,448 shares in the last quarter. Winslow Capital Management LLC grew its stake in Align Technology by 30.2% during the 3rd quarter. Winslow Capital Management LLC now owns 564,651 shares of the medical equipment provider’s stock valued at $220,903,000 after acquiring an additional 130,982 shares in the last quarter. BlackRock Inc. grew its stake in Align Technology by 2.2% during the 3rd quarter. BlackRock Inc. now owns 5,264,644 shares of the medical equipment provider’s stock valued at $2,059,633,000 after acquiring an additional 113,728 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Align Technology by 22.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 480,391 shares of the medical equipment provider’s stock valued at $187,939,000 after acquiring an additional 88,731 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in Align Technology by 257.2% during the 4th quarter. Retirement Systems of Alabama now owns 120,407 shares of the medical equipment provider’s stock valued at $25,217,000 after acquiring an additional 86,700 shares in the last quarter. 77.80% of the stock is currently owned by hedge funds and other institutional investors.
ALGN opened at $198.25 on Friday. Align Technology, Inc. has a twelve month low of $177.93 and a twelve month high of $398.88. The company has a market capitalization of $16.02 billion, a P/E ratio of 50.96, a P/E/G ratio of 1.45 and a beta of 1.91.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.05. Align Technology had a return on equity of 34.09% and a net margin of 16.89%. The firm had revenue of $505.30 million during the quarter, compared to analyst estimates of $503.14 million. During the same period in the previous year, the company earned $1.01 EPS. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. Analysts predict that Align Technology, Inc. will post 4.87 earnings per share for the current year.
Several equities analysts have weighed in on the company. BidaskClub cut Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Stifel Nicolaus lowered their target price on Align Technology from $425.00 to $346.00 and set a “buy” rating on the stock in a research note on Thursday, October 25th. Morgan Stanley lowered their target price on Align Technology from $300.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 4th. Robert W. Baird reduced their price target on Align Technology from $425.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Finally, Barclays reiterated a “buy” rating and set a $275.00 price target on shares of Align Technology in a report on Sunday, January 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $339.84.
In related news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $231.82, for a total value of $2,318,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher C. Puco sold 8,764 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $227.42, for a total value of $1,993,108.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,764 shares of company stock valued at $5,427,059. Corporate insiders own 1.40% of the company’s stock.
Align Technology Profile
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
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