Eversept Partners LLC Acquires New Position in Align Technology, Inc. (ALGN)

Eversept Partners LLC acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,000 shares of the medical equipment provider’s stock, valued at approximately $889,000. Align Technology accounts for about 0.7% of Eversept Partners LLC’s portfolio, making the stock its 27th biggest holding.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Align Technology by 2.6% during the fourth quarter. BlackRock Inc. now owns 5,153,023 shares of the medical equipment provider’s stock valued at $1,144,948,000 after buying an additional 130,189 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Align Technology by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 1,946,097 shares of the medical equipment provider’s stock valued at $362,499,000 after buying an additional 42,570 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Align Technology by 26.6% during the third quarter. Janus Henderson Group PLC now owns 752,014 shares of the medical equipment provider’s stock valued at $140,077,000 after buying an additional 157,890 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Align Technology by 5.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 719,411 shares of the medical equipment provider’s stock valued at $159,846,000 after buying an additional 37,900 shares during the last quarter. Finally, Atlantic Trust Group LLC lifted its position in shares of Align Technology by 4,682.8% during the third quarter. Atlantic Trust Group LLC now owns 638,935 shares of the medical equipment provider’s stock valued at $119,014,000 after buying an additional 625,576 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

In other news, Director Joseph Lacob sold 29,724 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were 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 is accessible through the SEC website. Also, VP Emory Wright sold 5,025 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the completion of the transaction, the vice president now owns 80,762 shares in the company, valued at approximately $21,295,324.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,529 shares of company stock worth $20,986,743. Corporate insiders own 1.60% of the company’s stock.

Align Technology, Inc. (NASDAQ:ALGN) opened at $259.68 on Friday. Align Technology, Inc. has a fifty-two week low of $100.27 and a fifty-two week high of $287.32. The stock has a market cap of $20,216.00, a PE ratio of 91.44, a PEG ratio of 1.92 and a beta of 1.48.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.23. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The firm had revenue of $421.30 million for the quarter, compared to the consensus estimate of $395.88 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 43.7% compared to the same quarter last year. research analysts forecast that Align Technology, Inc. will post 4.49 earnings per share for the current fiscal year.

ALGN has been the subject of several analyst reports. Deutsche Bank initiated coverage on shares of Align Technology in a research report on Friday, December 8th. They set a “hold” rating and a $250.00 price target for the company. Zacks Investment Research lowered shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Morgan Stanley increased their price target on shares of Align Technology from $257.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, November 27th. Leerink Swann reissued an “outperform” rating and set a $250.00 price target on shares of Align Technology in a research report on Friday, October 27th. Finally, Stephens lowered shares of Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 price target for the company. in a research report on Friday, January 19th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $258.54.

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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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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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