Bluestein R H & Co. reduced its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 16.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,500 shares of the medical equipment provider’s stock after selling 500 shares during the quarter. Bluestein R H & Co.’s holdings in Align Technology were worth $466,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Private Advisor Group LLC grew its stake in Align Technology by 45.0% during the third quarter. Private Advisor Group LLC now owns 3,291 shares of the medical equipment provider’s stock worth $619,000 after buying an additional 1,022 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in Align Technology during the third quarter worth approximately $587,000. KBC Group NV grew its stake in Align Technology by 11.4% during the third quarter. KBC Group NV now owns 65,066 shares of the medical equipment provider’s stock worth $12,120,000 after buying an additional 6,658 shares during the period. Tiedemann Wealth Management LLC grew its stake in Align Technology by 7.0% during the third quarter. Tiedemann Wealth Management LLC now owns 16,602 shares of the medical equipment provider’s stock worth $692,000 after buying an additional 1,087 shares during the period. Finally, Barings LLC grew its stake in Align Technology by 166.9% during the third quarter. Barings LLC now owns 14,040 shares of the medical equipment provider’s stock worth $2,615,000 after buying an additional 8,780 shares during the period. Institutional investors own 83.91% of the company’s stock.
Several equities research analysts have issued reports on the stock. Credit Suisse Group reiterated an “outperform” rating and set a $276.00 price objective (up from $261.00) on shares of Align Technology in a research note on Tuesday, November 28th. Robert W. Baird reissued a “buy” rating and set a $290.00 target price on shares of Align Technology in a research report on Wednesday, November 29th. Stifel Nicolaus boosted their target price on shares of Align Technology from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Morgan Stanley boosted their target price on shares of Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. Finally, Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price on the stock in a research report on Monday, October 30th. Eleven investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $235.55.
Align Technology, Inc. (NASDAQ:ALGN) opened at $227.36 on Wednesday. Align Technology, Inc. has a 12-month low of $88.56 and a 12-month high of $266.41. The company has a market cap of $20,370.75, a price-to-earnings ratio of 75.17, a PEG ratio of 2.43 and a beta of 1.43.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping 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 business had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. During the same period in the previous year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. research analysts anticipate that Align Technology, Inc. will post 3.62 EPS for the current fiscal year.
In related news, VP Emory Wright sold 5,025 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total value of $1,324,992.00. Following the sale, the vice president now directly owns 80,762 shares of the company’s stock, valued at $21,295,324.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Lacob sold 29,724 shares of the company’s 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. Over the last three months, insiders have sold 52,849 shares of company stock worth $13,494,348. Corporate insiders own 1.60% of the company’s stock.
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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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