Exxonmobil Investment Management Inc. TX lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,474 shares of the medical equipment provider’s stock after selling 1,699 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Align Technology were worth $2,549,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ALGN. Atlantic Trust Group LLC grew its position in Align Technology by 4,682.8% in the third quarter. Atlantic Trust Group LLC now owns 638,935 shares of the medical equipment provider’s stock worth $119,014,000 after acquiring an additional 625,576 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Align Technology by 9.8% in the third quarter. Parametric Portfolio Associates LLC now owns 152,654 shares of the medical equipment provider’s stock worth $28,435,000 after acquiring an additional 13,658 shares in the last quarter. AXA boosted its holdings in shares of Align Technology by 10.8% during the 3rd quarter. AXA now owns 83,761 shares of the medical equipment provider’s stock worth $15,602,000 after buying an additional 8,161 shares during the period. Visionary Asset Management Inc. bought a new stake in shares of Align Technology during the 3rd quarter worth $227,000. Finally, IFM Investors Pty Ltd bought a new stake in shares of Align Technology during the 3rd quarter worth $401,000. Hedge funds and other institutional investors own 82.50% of the company’s stock.
In related news, VP Emory Wright sold 5,025 shares of Align Technology stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the transaction, the vice president now owns 80,762 shares of the company’s stock, valued at approximately $21,295,324.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Morici sold 1,500 shares of Align Technology stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $255.00, for a total transaction of $382,500.00. Following the transaction, the chief financial officer now directly owns 1,544 shares in the company, valued at approximately $393,720. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,749 shares of company stock worth $10,348,281. Insiders own 1.60% of the company’s stock.
Several research firms recently issued reports on ALGN. Robert W. Baird reaffirmed a “buy” rating and set a $290.00 price objective on shares of Align Technology in a report on Wednesday, November 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $225.00 price objective (up from $205.00) on shares of Align Technology in a report on Thursday, October 19th. Morgan Stanley upped their target price on shares of Align Technology from $257.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, November 27th. Northcoast Research reiterated a “buy” rating and set a $230.00 target price (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $290.00 target price (up from $276.00) on shares of Align Technology in a research note on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $258.54.
Shares of Align Technology, Inc. (ALGN) traded down $14.98 during trading on Monday, hitting $242.40. 1,864,858 shares of the company were exchanged, compared to its average volume of 1,250,000. The firm has a market cap of $19,440.00, a PE ratio of 85.65, a P/E/G ratio of 1.97 and a beta of 1.48. Align Technology, Inc. has a 1-year low of $92.61 and a 1-year high of $287.32.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.23. The business had revenue of $421.30 million during the quarter, compared to analysts’ expectations of $395.88 million. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The firm’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. equities research analysts expect that Align Technology, Inc. will post 4.48 EPS for the current fiscal year.
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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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