Advisors Asset Management Inc. grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,887 shares of the medical equipment provider’s stock after purchasing an additional 2,220 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.07% of Align Technology worth $9,851,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. bought a new position in shares of Align Technology in the 3rd quarter valued at about $107,000. CENTRAL TRUST Co boosted 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. Schroder Investment Management Group bought a new position in shares of Align Technology in the 2nd quarter valued at about $104,000. Bronfman E.L. Rothschild L.P. boosted 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 bought a new position in shares of Align Technology in the 2nd quarter valued at about $148,000. 80.86% of the stock is currently owned by institutional investors.
In other Align Technology news, Director Greg J. Santora sold 7,700 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Raphael Pascaud sold 5,400 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the sale, the chief marketing officer now owns 22,228 shares in the company, valued at $5,376,508.64. The disclosure for this sale can be found here. Insiders sold a total of 16,600 shares of company stock worth $4,031,567 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.
Shares of Align Technology, Inc. (NASDAQ:ALGN) traded down $1.03 during trading hours on Friday, hitting $253.89. 653,398 shares of the company were exchanged, compared to its average volume of 1,006,345. The firm has a market cap of $20,440.00, a P/E ratio of 75.15, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41. Align Technology, Inc. has a 1-year low of $88.56 and a 1-year high of $257.60.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.19. The business had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. Align Technology’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. analysts forecast that Align Technology, Inc. will post 3.62 EPS for the current year.
Several research analysts have recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $225.00 target price (up previously from $205.00) on shares of Align Technology in a research note on Thursday, October 19th. Northcoast Research reaffirmed a “buy” rating and issued a $230.00 target price (up previously from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Credit Suisse Group reaffirmed a “positive” rating and issued a $261.00 target price (up previously from $209.00) on shares of Align Technology in a research note on Thursday, November 9th. Bank of America Corporation raised shares of Align Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $175.00 to $193.00 in a research note on Friday, July 28th. 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 note on Monday, October 30th. Eleven equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $219.18.
Align Technology Company 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.
Receive News & Ratings for Align Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.