Deutsche Bank AG cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188,741 shares of the medical equipment provider’s stock after selling 27,643 shares during the period. Deutsche Bank AG owned approximately 0.24% of Align Technology worth $41,932,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Martin Currie Ltd. acquired a new position in Align Technology in the fourth quarter valued at about $622,000. Caxton Associates LP acquired a new position in Align Technology in the fourth quarter valued at about $791,000. Quantitative Investment Management LLC acquired a new position in Align Technology in the fourth quarter valued at about $14,064,000. AMP Capital Investors Ltd grew its stake in Align Technology by 23.7% in the fourth quarter. AMP Capital Investors Ltd now owns 60,520 shares of the medical equipment provider’s stock valued at $13,447,000 after acquiring an additional 11,600 shares during the period. Finally, Rock Springs Capital Management LP grew its stake in Align Technology by 8.9% in the fourth quarter. Rock Springs Capital Management LP now owns 66,750 shares of the medical equipment provider’s stock valued at $14,831,000 after acquiring an additional 5,450 shares during the period. 80.60% of the stock is owned by institutional investors and hedge funds.
In other news, VP Emory Wright sold 45,780 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the completion of the transaction, the vice president now directly owns 29,957 shares of the company’s stock, valued at $7,791,216.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Hogan bought 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $233.63 per share, for a total transaction of $350,445.00. Following the acquisition, the insider now directly owns 42,984 shares of the company’s stock, valued at approximately $10,042,351.92. The disclosure for this purchase can be found here. 1.60% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on ALGN shares. Stifel Nicolaus boosted their target price on Align Technology from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Robert W. Baird reissued a “buy” rating and issued a $290.00 target price on shares of Align Technology in a research note on Wednesday, November 29th. Credit Suisse Group raised Align Technology to a “buy” rating and set a $276.00 target price for the company in a research note on Thursday, January 4th. BidaskClub cut Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $300.00 target price on shares of Align Technology in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $263.56.
Align Technology, Inc. (ALGN) opened at $270.41 on Friday. The firm has a market capitalization of $21,866.50, a PE ratio of 69.97, a PEG ratio of 2.06 and a beta of 1.44. Align Technology, Inc. has a 52-week low of $110.25 and a 52-week high of $287.32.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.23. The company had revenue of $421.30 million during the quarter, compared to analysts’ expectations of $395.88 million. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. Align Technology’s revenue for the quarter was up 43.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. equities research analysts predict that Align Technology, Inc. will post 4.52 EPS for the current fiscal year.
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Align Technology 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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