Global X MANAGEMENT CO LLC Buys 979 Shares of Align Technology, Inc. (ALGN)

Global X MANAGEMENT CO LLC grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 82.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,170 shares of the medical equipment provider’s stock after buying an additional 979 shares during the period. Global X MANAGEMENT CO LLC’s holdings in Align Technology were worth $404,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ALGN. Teachers Advisors LLC increased its position in Align Technology by 4.9% during the first quarter. Teachers Advisors LLC now owns 70,197 shares of the medical equipment provider’s stock worth $8,052,000 after buying an additional 3,298 shares in the last quarter. NN Investment Partners Holdings N.V. grew its position in shares of Align Technology by 434.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,671 shares of the medical equipment provider’s stock valued at $401,000 after purchasing an additional 2,171 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Align Technology in the second quarter valued at $192,000. Mn Services Vermogensbeheer B.V. grew its position in shares of Align Technology by 541.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 12,291 shares of the medical equipment provider’s stock valued at $1,845,000 after purchasing an additional 10,374 shares during the period. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Align Technology in the second quarter valued at $327,000. 80.86% of the stock is owned by institutional investors.

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In related news, CMO Raphael Pascaud sold 5,400 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $241.88, for a total value of $1,306,152.00. Following the completion of the transaction, the chief marketing officer now directly owns 22,228 shares of the company’s stock, valued at approximately $5,376,508.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Julie Tay sold 3,500 shares of the stock in a transaction that occurred on 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 transaction, 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 sold a total of 16,600 shares of company stock valued at $4,031,567 over the last three months. Corporate insiders own 1.60% of the company’s stock.

A number of equities research analysts have recently commented on ALGN shares. Stifel Nicolaus lifted their price objective on Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. Robert W. Baird set a $208.00 price objective on Align Technology and gave the company a “buy” rating in a research report on Wednesday, October 18th. Northcoast Research reissued a “buy” rating and set a $230.00 price target (up previously from $200.00) on shares of Align Technology in a research report on Tuesday, October 10th. Piper Jaffray Companies reissued a “buy” rating and set a $176.00 price target on shares of Align Technology in a research report on Friday, July 28th. Finally, Bank of America Corporation raised Align Technology from a “neutral” rating to a “buy” rating and boosted their price target for the company from $175.00 to $193.00 in a research report on Friday, July 28th. Eleven analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $219.18.

Shares of Align Technology, Inc. (NASDAQ:ALGN) opened at $253.89 on Friday. Align Technology, Inc. has a one year low of $88.56 and a one year high of $257.60. The stock has a market capitalization of $20,356.39, a P/E ratio of 75.12, a price-to-earnings-growth ratio of 2.43 and a beta of 1.42.

Align Technology (NASDAQ:ALGN) last announced 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. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The firm had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Align Technology’s revenue for the quarter was up 38.3% compared to the same quarter last year. research analysts forecast that Align Technology, Inc. will post 3.62 earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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