State of Tennessee Treasury Department lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 36.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,628 shares of the medical equipment provider’s stock after selling 11,025 shares during the period. State of Tennessee Treasury Department’s holdings in Align Technology were worth $3,656,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group acquired a new position in Align Technology during the second quarter worth $104,000. CENTRAL TRUST Co lifted its stake in shares of Align Technology by 128.5% in 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 during the last quarter. Whittier Trust Co. acquired a new position in shares of Align Technology in the 3rd quarter valued at $107,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Align Technology by 13.0% in 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 during the last quarter. Finally, BlueMountain Capital Management LLC acquired a new position in shares of Align Technology in the 2nd quarter valued at $148,000. 80.86% of the stock is currently owned by institutional investors.
Shares of Align Technology, Inc. (ALGN) opened at $254.92 on Friday. The stock has a market capitalization of $19,979.48, a price-to-earnings ratio of 73.72, a P/E/G ratio of 2.38 and a beta of 1.42. Align Technology, Inc. has a 1-year low of $88.56 and a 1-year high of $257.60.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.19. The firm had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. analysts expect that Align Technology, Inc. will post 3.62 earnings per share for the current year.
In related news, Director Greg J. Santora sold 7,700 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $238.95, for a total value of $1,839,915.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Julie Tay sold 3,500 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $253.00, for a total value of $885,500.00. Following the completion of the sale, the vice president now owns 12,213 shares in the company, valued at approximately $3,089,889. The disclosure for this sale can be found here. Insiders sold a total of 16,600 shares of company stock worth $4,031,567 in the last quarter. Company insiders own 1.60% of the company’s stock.
Several equities analysts have recently commented on the company. Credit Suisse Group reaffirmed a “positive” rating and issued a $261.00 price target (up previously from $209.00) on shares of Align Technology in a research note on Thursday, November 9th. Zacks Investment Research raised Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target on the stock in a research note on Monday, October 30th. Stifel Nicolaus upped their price target on Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Robert W. Baird reaffirmed a “buy” rating and issued a $245.00 price target on shares of Align Technology in a research note on Friday, October 27th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $250.00 price target on shares of Align Technology in a research note on Friday, October 27th. Eleven analysts have rated the stock with a buy rating, Align Technology has an average rating of “Buy” and an average price target of $219.18.
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About Align Technology
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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