Brown Advisory Inc. decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 57.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,844 shares of the medical equipment provider’s stock after selling 16,002 shares during the period. Brown Advisory Inc.’s holdings in Align Technology were worth $4,634,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of ALGN. Sigma Planning Corp lifted its stake in Align Technology by 9.8% in the second quarter. Sigma Planning Corp now owns 1,527 shares of the medical equipment provider’s stock worth $522,000 after acquiring an additional 136 shares during the period. Lido Advisors LLC lifted its stake in Align Technology by 15.9% in the second quarter. Lido Advisors LLC now owns 1,091 shares of the medical equipment provider’s stock worth $373,000 after acquiring an additional 150 shares during the period. Brighton Jones LLC lifted its stake in Align Technology by 5.5% in the second quarter. Brighton Jones LLC now owns 2,898 shares of the medical equipment provider’s stock worth $992,000 after acquiring an additional 151 shares during the period. HL Financial Services LLC lifted its stake in Align Technology by 8.0% in the second quarter. HL Financial Services LLC now owns 2,137 shares of the medical equipment provider’s stock worth $731,000 after acquiring an additional 158 shares during the period. Finally, State Treasurer State of Michigan lifted its stake in Align Technology by 0.9% in the second quarter. State Treasurer State of Michigan now owns 21,400 shares of the medical equipment provider’s stock worth $7,322,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.
In other news, SVP Sreelakshmi Kolli sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $223.15, for a total transaction of $1,115,750.00. Following the completion of the transaction, the senior vice president now directly owns 27,180 shares in the company, valued at $6,065,217. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher C. Puco sold 8,764 shares of the firm’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $227.42, for a total value of $1,993,108.88. The disclosure for this sale can be found here. Insiders have sold 23,764 shares of company stock valued at $5,427,059 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.
Shares of Align Technology stock opened at $220.95 on Thursday. The firm has a market cap of $17.67 billion, a price-to-earnings ratio of 45.09, a PEG ratio of 1.93 and a beta of 2.05. Align Technology, Inc. has a 12 month low of $188.57 and a 12 month high of $398.88.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 24th. The medical equipment provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05. The business had revenue of $505.30 million during the quarter, compared to analyst estimates of $503.14 million. Align Technology had a return on equity of 34.09% and a net margin of 16.89%. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. As a group, equities research analysts forecast that Align Technology, Inc. will post 4.87 EPS for the current fiscal year.
A number of analysts recently commented on the company. Zacks Investment Research lowered Align Technology from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. Credit Suisse Group dropped their price target on Align Technology from $375.00 to $343.00 and set an “outperform” rating for the company in a research note on Tuesday, November 20th. Robert W. Baird lowered their price objective on Align Technology from $425.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. BidaskClub lowered Align Technology from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Finally, Morgan Stanley lowered their price objective on Align Technology from $320.00 to $300.00 and set an “equal weight” rating for the company in a research report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $352.20.
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Align Technology Company Profile
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
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