Pennsylvania Trust Co lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 6.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,291 shares of the medical equipment provider’s stock after selling 686 shares during the quarter. Pennsylvania Trust Co’s holdings in Align Technology were worth $2,064,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Align Technology by 16.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after acquiring an additional 1,034,254 shares during the period. State Street Corp boosted its holdings in Align Technology by 32.2% in the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after acquiring an additional 765,189 shares during the period. Bank of New York Mellon Corp boosted its holdings in Align Technology by 2.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,946,097 shares of the medical equipment provider’s stock worth $362,499,000 after acquiring an additional 42,570 shares during the period. Renaissance Technologies LLC boosted its holdings in Align Technology by 11.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock worth $238,343,000 after acquiring an additional 160,881 shares during the period. Finally, Northern Trust Corp boosted its holdings in Align Technology by 11.8% in the 2nd quarter. Northern Trust Corp now owns 965,945 shares of the medical equipment provider’s stock worth $145,007,000 after acquiring an additional 101,571 shares during the period. Institutional investors and hedge funds own 82.50% of the company’s stock.
In related news, CFO John Morici sold 1,500 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $255.00, for a total value of $382,500.00. Following the completion of the transaction, the chief financial officer now owns 1,544 shares in the company, valued at approximately $393,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Julie Tay sold 3,500 shares of the stock in a transaction dated Monday, November 13th. The stock was 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 directly owns 12,213 shares of the company’s stock, valued at $3,089,889. The disclosure for this sale can be found here. Insiders have sold 85,529 shares of company stock valued at $22,254,743 in the last ninety days. Company insiders own 1.60% of the company’s stock.
Shares of Align Technology, Inc. (ALGN) traded up $8.66 on Friday, hitting $229.37. The stock had a trading volume of 1,550,000 shares, compared to its average volume of 1,350,000. The firm has a market capitalization of $18,390.00, a price-to-earnings ratio of 81.05, a price-to-earnings-growth ratio of 1.79 and a beta of 1.48. Align Technology, Inc. has a 52 week low of $94.20 and a 52 week high of $287.32.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The company had revenue of $421.30 million for the quarter, compared to analyst estimates of $395.88 million. During the same period last year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 43.7% compared to the same quarter last year. research analysts anticipate that Align Technology, Inc. will post 4.49 earnings per share for the current year.
Several equities analysts have recently commented on the company. Stifel Nicolaus increased their target price on Align Technology from $265.00 to $295.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $318.00 target price for the company in a research note on Monday, January 29th. Stephens cut Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 target price for the company. in a research note on Friday, January 19th. Credit Suisse Group upped their price target on Align Technology from $276.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Leerink Swann upped their price target on Align Technology from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Align Technology currently has an average rating of “Buy” and a consensus price target of $258.54.
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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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