Wealth Enhancement Advisory Services LLC purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 8,011 shares of the medical equipment provider’s stock, valued at approximately $2,070,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Schroder Investment Management Group bought a new stake in shares of Align Technology in the 2nd quarter worth about $104,000. Whittier Trust Co. bought a new stake in shares of Align Technology in the 3rd quarter worth about $107,000. BlueMountain Capital Management LLC bought a new stake in shares of Align Technology in the 2nd quarter worth about $148,000. Coldstream Capital Management Inc. bought a new stake in shares of Align Technology in the 2nd quarter worth about $202,000. Finally, Guardian Capital LP bought a new stake in shares of Align Technology in the 2nd quarter worth about $206,000. Institutional investors own 82.95% of the company’s stock.
A number of analysts have recently weighed in on ALGN shares. Robert W. Baird restated a “buy” rating and issued a $245.00 target price on shares of Align Technology in a report on Friday, October 27th. Stifel Nicolaus boosted their target price on shares of Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Northcoast Research restated a “buy” rating and issued a $230.00 target price (up from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price on the stock in a report on Monday, October 30th. Finally, Credit Suisse Group upgraded shares of Align Technology to a “buy” rating and set a $276.00 target price on the stock in a report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $236.23.
Align Technology, Inc. (ALGN) opened at $269.46 on Friday. The company has a market cap of $21,704.10, a PE ratio of 81.65, a P/E/G ratio of 2.12 and a beta of 1.43. Align Technology, Inc. has a fifty-two week low of $88.56 and a fifty-two week high of $273.60.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, beating the consensus estimate 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 net margin of 19.98% and a return on equity of 25.60%. The firm’s revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. equities analysts expect that Align Technology, Inc. will post 3.67 EPS for the current year.
In related news, Director Greg J. Santora sold 7,700 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Raphael Pascaud sold 5,400 shares of the company’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 $5,376,508.64. The disclosure for this sale can be found here. Insiders have sold a total of 52,849 shares of company stock worth $13,494,348 over the last quarter. 1.60% of the stock is currently owned by insiders.
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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.
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