Gateway Investment Advisers LLC trimmed its stake in Align Technology, Inc. (NASDAQ:ALGN) by 1.5% in the 1st quarter, Holdings Channel reports. The firm owned 51,856 shares of the medical equipment provider’s stock after selling 769 shares during the period. Gateway Investment Advisers LLC’s holdings in Align Technology were worth $14,744,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Courier Capital LLC lifted its stake in shares of Align Technology by 0.9% in the 4th quarter. Courier Capital LLC now owns 5,605 shares of the medical equipment provider’s stock valued at $1,174,000 after purchasing an additional 50 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Align Technology by 67.6% in the 4th quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Gemmer Asset Management LLC lifted its stake in shares of Align Technology by 57.3% in the 4th quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Align Technology by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 3,152 shares of the medical equipment provider’s stock valued at $660,000 after purchasing an additional 55 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its stake in shares of Align Technology by 6.6% in the 4th quarter. Wedbush Securities Inc. now owns 968 shares of the medical equipment provider’s stock valued at $203,000 after purchasing an additional 60 shares during the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on ALGN. BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Leerink Swann reduced their price target on Align Technology from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Wednesday, January 30th. They noted that the move was a valuation call. UBS Group began coverage on Align Technology in a report on Thursday, January 17th. They issued a “buy” rating and a $230.00 price target on the stock. Piper Jaffray Companies increased their price target on Align Technology from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, ValuEngine upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Wednesday, December 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the stock. Align Technology currently has a consensus rating of “Buy” and a consensus price target of $325.73.
ALGN opened at $290.12 on Thursday. The firm has a market cap of $22.82 billion, a price-to-earnings ratio of 58.10, a PEG ratio of 2.60 and a beta of 2.13. Align Technology, Inc. has a 52 week low of $177.93 and a 52 week high of $398.88.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Tuesday, January 29th. The medical equipment provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. The company had revenue of $534.02 million for the quarter, compared to the consensus estimate of $512.03 million. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. As a group, equities analysts predict that Align Technology, Inc. will post 5.08 earnings per share for the current fiscal year.
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About Align Technology
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
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