Green Square Capital LLC reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 40.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,596 shares of the medical equipment provider’s stock after selling 3,864 shares during the period. Green Square Capital LLC’s holdings in Align Technology were worth $1,042,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schroder Investment Management Group purchased a new position in Align Technology in the 2nd quarter worth $104,000. Whittier Trust Co. purchased a new position in Align Technology in the 3rd quarter worth $107,000. Bronfman E.L. Rothschild L.P. raised its position in Align Technology by 13.0% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 105 shares during the period. BlueMountain Capital Management LLC purchased a new position in Align Technology in the 2nd quarter worth $148,000. Finally, Commonwealth Bank of Australia raised its position in Align Technology by 10.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock worth $169,000 after purchasing an additional 107 shares during the period. 84.04% of the stock is owned by institutional investors.
In other Align Technology news, VP Julie Tay sold 3,500 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $253.00, for a total value of $885,500.00. Following the transaction, the vice president now owns 12,213 shares in the company, valued at $3,089,889. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Raphael Pascaud sold 5,400 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the transaction, the chief marketing officer now owns 22,228 shares in the company, valued at approximately $5,376,508.64. The disclosure for this sale can be found here. Insiders sold 52,849 shares of company stock worth $13,494,348 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.
Align Technology, Inc. (NASDAQ:ALGN) opened at $233.66 on Tuesday. Align Technology, Inc. has a 52-week low of $88.56 and a 52-week high of $266.41. The stock has a market cap of $19,116.77, a PE ratio of 70.54, a price-to-earnings-growth ratio of 2.28 and a beta of 1.43.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The firm had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 38.3% compared to the same quarter last year. analysts forecast that Align Technology, Inc. will post 3.62 earnings per share for the current fiscal year.
A number of brokerages recently commented on ALGN. Goldman Sachs Group lifted their target price on shares of Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 15th. Robert W. Baird set a $208.00 target price on shares of Align Technology and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $225.00 target price (up previously from $205.00) on shares of Align Technology in a research report on Thursday, October 19th. Deutsche Bank began coverage on shares of Align Technology in a research report on Friday. They issued a “hold” rating and a $250.00 target price on the stock. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $276.00 target price (up previously from $261.00) on shares of Align Technology in a research report on Tuesday, November 28th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $236.75.
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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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