Fisher Asset Management LLC trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 91,526 shares of the medical equipment provider’s stock after selling 4,912 shares during the quarter. Fisher Asset Management LLC owned about 0.11% of Align Technology worth $17,049,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. CENTRAL TRUST Co lifted its position in shares of Align Technology by 128.5% during the 2nd quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock valued at $105,000 after acquiring an additional 392 shares during the period. Schroder Investment Management Group acquired a new position in shares of Align Technology during the 2nd quarter worth $104,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after buying an additional 105 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of Align Technology during the 2nd quarter worth $148,000. Finally, Trust Co. of Vermont raised its holdings in shares of Align Technology by 15.4% during the 2nd quarter. Trust Co. of Vermont now owns 1,010 shares of the medical equipment provider’s stock worth $152,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 81.16% of the company’s stock.
Shares of Align Technology, Inc. (NASDAQ ALGN) traded down $0.17 on Friday, reaching $249.46. The company’s stock had a trading volume of 927,500 shares, compared to its average volume of 1,006,116. Align Technology, Inc. has a fifty-two week low of $88.56 and a fifty-two week high of $254.19. The firm has a market cap of $20,014.76, a PE ratio of 73.86, a PEG ratio of 2.39 and a beta of 1.42.
Align Technology (NASDAQ:ALGN) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.19. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The business had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $359.80 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. equities analysts anticipate that Align Technology, Inc. will post 3.62 earnings per share for the current year.
ALGN has been the subject of a number of research analyst reports. Piper Jaffray Companies reissued a “buy” rating and set a $176.00 price target on shares of Align Technology in a report on Friday, July 28th. Robert W. Baird reissued a “buy” rating and set a $245.00 price target on shares of Align Technology in a report on Friday, October 27th. Leerink Swann reissued an “outperform” rating and set a $250.00 price target on shares of Align Technology in a report on Friday, October 27th. Morgan Stanley reissued an “overweight” rating and set a $182.00 price target (up previously from $175.00) on shares of Align Technology in a report on Monday, July 17th. Finally, Stifel Nicolaus boosted their price target on Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Eleven research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $219.18.
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In other Align Technology news, CMO Raphael Pascaud sold 5,400 shares of the company’s stock in a transaction dated 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 sale, the chief marketing officer now owns 22,228 shares in the company, valued at approximately $5,376,508.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Greg J. Santora sold 7,700 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
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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