Align Technology, Inc. (NASDAQ:ALGN) Holdings Lifted by Eastern Bank

Eastern Bank increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 16.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,223 shares of the medical equipment provider’s stock after purchasing an additional 600 shares during the quarter. Eastern Bank’s holdings in Align Technology were worth $786,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Align Technology by 16.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock valued at $1,095,740,000 after acquiring an additional 1,034,254 shares during the last quarter. State Street Corp lifted its holdings in Align Technology by 32.2% in the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock valued at $471,823,000 after acquiring an additional 765,189 shares during the last quarter. Federated Investors Inc. PA lifted its holdings in Align Technology by 794.9% in the 2nd quarter. Federated Investors Inc. PA now owns 685,086 shares of the medical equipment provider’s stock valued at $102,846,000 after acquiring an additional 608,535 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Align Technology by 200.5% in the 2nd quarter. Janus Henderson Group PLC now owns 594,124 shares of the medical equipment provider’s stock valued at $89,190,000 after acquiring an additional 396,426 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Align Technology by 568.4% in the 2nd quarter. Voya Investment Management LLC now owns 441,451 shares of the medical equipment provider’s stock valued at $66,271,000 after acquiring an additional 375,409 shares during the last quarter. 81.16% of the stock is owned by institutional investors and hedge funds.

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Shares of Align Technology, Inc. (NASDAQ:ALGN) traded down $0.17 on Friday, hitting $249.46. The stock had a trading volume of 927,500 shares, compared to its average volume of 1,006,116. The firm has a market cap of $20,014.76, a P/E ratio of 73.86, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. Align Technology, Inc. has a one year low of $88.56 and a one year high of $254.19.

Align Technology (NASDAQ:ALGN) last issued its 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 company had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The firm’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. analysts anticipate that Align Technology, Inc. will post 3.62 EPS for the current year.

ALGN has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 21st. Stifel Nicolaus reissued a “buy” rating and issued a $225.00 price target (up from $205.00) on shares of Align Technology in a report on Thursday, October 19th. Morgan Stanley restated an “overweight” rating and set a $220.00 price objective (up previously from $195.00) on shares of Align Technology in a report on Friday, October 6th. Northcoast Research restated a “buy” rating and set a $230.00 price objective (up previously from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Finally, Robert W. Baird restated a “buy” rating on shares of Align Technology in a report on Tuesday, September 12th. Eleven equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $219.18.

In related news, CMO Raphael Pascaud sold 5,400 shares of the business’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 value of $1,306,152.00. Following the completion of the sale, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at approximately $5,376,508.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Greg J. Santora sold 7,700 shares of the business’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 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.

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

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