Global X MANAGEMENT CO LLC lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 82.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,170 shares of the medical equipment provider’s stock after buying an additional 979 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Align Technology were worth $404,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in 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 purchasing an additional 1,034,254 shares in the last quarter. State Street Corp grew 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 buying an additional 765,189 shares during the period. Federated Investors Inc. PA grew its holdings in shares of Align Technology by 794.9% during the 2nd quarter. Federated Investors Inc. PA now owns 685,086 shares of the medical equipment provider’s stock worth $102,846,000 after purchasing an additional 608,535 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Align Technology by 200.5% during the 2nd quarter. Janus Henderson Group PLC now owns 594,124 shares of the medical equipment provider’s stock worth $89,190,000 after purchasing an additional 396,426 shares during the period. Finally, Voya Investment Management LLC grew its holdings in shares of Align Technology by 568.4% during the 2nd quarter. Voya Investment Management LLC now owns 441,451 shares of the medical equipment provider’s stock worth $66,271,000 after purchasing an additional 375,409 shares during the period. 83.91% of the stock is owned by institutional investors and hedge funds.
Shares of Align Technology, Inc. (NASDAQ ALGN) traded down $28.27 on Monday, reaching $225.80. The company had a trading volume of 3,878,619 shares, compared to its average volume of 1,018,238. The company has a market cap of $18,100.00, a P/E ratio of 75.17, a P/E/G ratio of 2.43 and a beta of 1.43. Align Technology, Inc. has a 52-week low of $88.56 and a 52-week high of $266.41.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The firm had revenue of $385.30 million during 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 revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. research analysts anticipate that Align Technology, Inc. will post 3.62 EPS for the current fiscal year.
A number of brokerages have issued reports on ALGN. Robert W. Baird reaffirmed a “buy” rating and issued a $245.00 target price on shares of Align Technology in a research report on Friday, October 27th. Leerink Swann reiterated an “outperform” rating and issued a $250.00 price target on shares of Align Technology in a report on Friday, October 27th. Credit Suisse Group reiterated an “outperform” rating and issued a $276.00 price target (up from $261.00) on shares of Align Technology in a report on Tuesday, November 28th. Stifel Nicolaus boosted their price target on Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Finally, Zacks Investment Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 21st. Eleven analysts have rated the stock with a buy rating, Align Technology presently has an average rating of “Buy” and a consensus target price of $235.55.
In other news, VP Emory Wright sold 5,025 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 80,762 shares of the company’s stock, valued at $21,295,324.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Lacob sold 29,724 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $260.91, for a total value of $7,755,288.84. The disclosure for this sale can be found here. In the last three months, insiders sold 52,849 shares of company stock valued at $13,494,348. Company 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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