Toronto Dominion Bank increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,538 shares of the medical equipment provider’s stock after acquiring an additional 1,955 shares during the quarter. Toronto Dominion Bank’s holdings in Align Technology were worth $5,129,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Align Technology by 16.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock worth $1,095,740,000 after buying an additional 1,034,254 shares during the last quarter. Polen Capital Management LLC raised its position in Align Technology by 6.8% in the second quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock valued at $504,789,000 after purchasing an additional 212,773 shares during the last quarter. State Street Corp increased its stake in shares of Align Technology by 32.2% in the second quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock valued at $471,823,000 after buying an additional 765,189 shares during the period. Renaissance Technologies LLC increased its stake in shares of Align Technology by 11.3% in the second quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock valued at $238,343,000 after buying an additional 160,881 shares during the period. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of Align Technology by 35.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 968,086 shares of the medical equipment provider’s stock valued at $145,329,000 after buying an additional 255,000 shares during the period. 83.91% of the stock is currently owned by institutional investors and hedge funds.
ALGN has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $205.00 target price (up previously from $200.00) on shares of Align Technology in a research note on Monday, August 7th. Zacks Investment Research cut Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $200.00 target price on shares of Align Technology in a research note on Monday, September 11th. Robert W. Baird reiterated a “buy” rating on shares of Align Technology in a report on Tuesday, September 12th. Finally, Goldman Sachs Group increased their price target on Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 15th. Eleven equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $235.55.
Shares of Align Technology, Inc. (NASDAQ ALGN) traded down $28.27 during midday trading on Monday, hitting $225.80. The stock had a trading volume of 3,878,619 shares, compared to its average volume of 1,018,238. Align Technology, Inc. has a one year low of $88.56 and a one year high of $266.41. The stock has a market capitalization of $18,100.00, a PE ratio of 75.17, a PEG ratio of 2.43 and a beta of 1.43.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping 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 business had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $359.80 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s revenue was up 38.3% on a year-over-year basis. equities analysts anticipate that Align Technology, Inc. will post 3.62 EPS for the current fiscal year.
In related news, VP Emory Wright sold 5,025 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $263.68, for a total value of $1,324,992.00. Following the sale, the vice president now owns 80,762 shares in the company, valued at approximately $21,295,324.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg J. Santora sold 7,700 shares of the company’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. In the last ninety days, insiders have sold 52,849 shares of company stock valued at $13,494,348. Corporate insiders own 1.60% of the company’s stock.
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Align Technology 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.
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