Metropolitan Life Insurance Co. NY trimmed its position in Align Technology, Inc. (NASDAQ:ALGN) by 60.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,827 shares of the medical equipment provider’s stock after selling 23,032 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Align Technology were worth $3,294,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. National Pension Service raised its position in shares of Align Technology by 98,968.3% in the 4th quarter. National Pension Service now owns 81,236 shares of the medical equipment provider’s stock valued at $18,050,000 after acquiring an additional 81,154 shares during the period. APG Asset Management N.V. raised its position in shares of Align Technology by 113.1% in the 4th quarter. APG Asset Management N.V. now owns 107,400 shares of the medical equipment provider’s stock valued at $19,873,000 after acquiring an additional 57,000 shares during the period. HWG Holdings LP raised its position in shares of Align Technology by 579.3% in the 4th quarter. HWG Holdings LP now owns 3,057 shares of the medical equipment provider’s stock valued at $679,000 after acquiring an additional 2,607 shares during the period. Neuberger Berman Group LLC raised its position in shares of Align Technology by 1,899.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 101,435 shares of the medical equipment provider’s stock valued at $18,894,000 after acquiring an additional 96,361 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in shares of Align Technology in the 3rd quarter valued at approximately $2,351,000. Institutional investors and hedge funds own 80.53% of the company’s stock.
Shares of ALGN stock opened at $270.40 on Wednesday. The company has a market cap of $21,267.09, a P/E ratio of 68.05, a price-to-earnings-growth ratio of 2.01 and a beta of 1.44. Align Technology, Inc. has a fifty-two week low of $110.25 and a fifty-two week high of $287.32.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.96 by $0.23. The firm had revenue of $421.30 million for the quarter, compared to the consensus estimate of $395.88 million. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The business’s quarterly revenue was up 43.7% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. equities research analysts forecast that Align Technology, Inc. will post 4.52 EPS for the current year.
In other news, VP Emory Wright sold 45,780 shares of Align Technology stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $260.08, for a total value of $11,906,462.40. Following the sale, the vice president now directly owns 29,957 shares in the company, valued at $7,791,216.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Hogan acquired 1,500 shares of the stock in a transaction dated Tuesday, February 13th. The stock was acquired at an average price of $233.63 per share, for a total transaction of $350,445.00. Following the completion of the acquisition, the insider now directly owns 42,984 shares of the company’s stock, valued at $10,042,351.92. The disclosure for this purchase can be found here. 1.60% of the stock is owned by company insiders.
A number of analysts recently weighed in on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $300.00 price target on shares of Align Technology in a research report on Wednesday, January 31st. Credit Suisse Group increased their price target on shares of Align Technology from $276.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Barclays initiated coverage on shares of Align Technology in a research report on Thursday, March 8th. They issued an “overweight” rating and a $290.00 price target on the stock. BidaskClub downgraded shares of Align Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 31st. Finally, Stifel Nicolaus raised their target price on shares of Align Technology from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $263.56.
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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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