Disciplined Growth Investors Inc. MN cut its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 1.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,089,368 shares of the medical equipment provider’s stock after selling 20,499 shares during the period. Align Technology accounts for approximately 4.3% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 3rd biggest holding. Disciplined Growth Investors Inc. MN owned 1.36% of Align Technology worth $202,917,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Schroder Investment Management Group bought a new position in shares of Align Technology in the second quarter worth about $104,000. Whittier Trust Co. bought a new position in shares of Align Technology in the third quarter worth about $107,000. Bronfman E.L. Rothschild L.P. grew its position in Align Technology by 13.0% during the second 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 stake in Align Technology during the second quarter worth about $148,000. Finally, Commonwealth Bank of Australia grew its position in Align Technology by 10.5% during the second quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock worth $169,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds own 83.91% of the company’s stock.
Shares of Align Technology, Inc. (NASDAQ ALGN) opened at $238.43 on Monday. The firm has a market capitalization of $19,120.00, a P/E ratio of 70.54, a price-to-earnings-growth ratio of 2.28 and a beta of 1.43. Align Technology, Inc. has a 1-year low of $88.56 and a 1-year high of $266.41.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings data 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 company’s quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. equities research analysts predict that Align Technology, Inc. will post 3.62 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on ALGN shares. Zacks Investment Research raised Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price on the stock in a research report on Monday, October 30th. Robert W. Baird reissued a “buy” rating and set a $245.00 target price on shares of Align Technology in a research report on Friday, October 27th. Stifel Nicolaus lifted their target price on Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Northcoast Research reissued a “buy” rating and set a $230.00 target price (up from $200.00) on shares of Align Technology in a research report on Tuesday, October 10th. Finally, Goldman Sachs Group lifted their target price on Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 15th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $236.75.
In other Align Technology news, Director Joseph Lacob sold 29,724 shares of Align Technology stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $260.91, for a total transaction of $7,755,288.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Julie Tay sold 3,500 shares of Align Technology stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $253.00, for a total value of $885,500.00. Following the sale, the vice president now directly owns 12,213 shares in the company, valued at $3,089,889. The disclosure for this sale can be found here. Insiders have sold 52,849 shares of company stock worth $13,494,348 over the last ninety days. Company insiders own 1.60% of the company’s stock.
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Align Technology Company 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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