Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 511.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 15,280 shares of the medical equipment provider’s stock after buying an additional 12,781 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Align Technology were worth $8,274,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its position in shares of Align Technology by 1.8% in the fourth quarter. Checchi Capital Advisers LLC now owns 952 shares of the medical equipment provider’s stock worth $509,000 after acquiring an additional 17 shares in the last quarter. Ellevest Inc. increased its position in shares of Align Technology by 4.5% in the first quarter. Ellevest Inc. now owns 421 shares of the medical equipment provider’s stock worth $228,000 after acquiring an additional 18 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Align Technology by 2.0% in the first quarter. Hillsdale Investment Management Inc. now owns 1,016 shares of the medical equipment provider’s stock worth $550,000 after acquiring an additional 20 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its position in shares of Align Technology by 1.5% in the first quarter. Bradley Foster & Sargent Inc. CT now owns 1,375 shares of the medical equipment provider’s stock worth $745,000 after acquiring an additional 20 shares in the last quarter. Finally, BRYN MAWR TRUST Co increased its position in shares of Align Technology by 6.2% in the first quarter. BRYN MAWR TRUST Co now owns 430 shares of the medical equipment provider’s stock worth $233,000 after acquiring an additional 25 shares in the last quarter. 84.28% of the stock is owned by institutional investors.

NASDAQ ALGN opened at $612.15 on Friday. Align Technology, Inc. has a 12 month low of $237.24 and a 12 month high of $647.20. The company has a market cap of $48.44 billion, a P/E ratio of 106.46, a price-to-earnings-growth ratio of 2.82 and a beta of 1.69. The company’s fifty day moving average is $586.82.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Tuesday, April 27th. The medical equipment provider reported $2.49 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.47. Align Technology had a net margin of 16.27% and a return on equity of 14.65%. The firm had revenue of $894.80 million for the quarter, compared to the consensus estimate of $810.27 million. During the same period in the prior year, the firm posted $0.73 EPS. The firm’s revenue was up 62.4% compared to the same quarter last year. On average, sell-side analysts expect that Align Technology, Inc. will post 8.86 EPS for the current fiscal year.

In other news, SVP Emory Wright sold 5,533 shares of the firm’s stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $595.00, for a total value of $3,292,135.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Warren S. Thaler sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $605.16, for a total transaction of $3,025,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,396 shares of company stock worth $13,413,107 over the last quarter. 0.70% of the stock is currently owned by insiders.

Several research firms have recently issued reports on ALGN. Zacks Investment Research lowered shares of Align Technology from a “strong-buy” rating to a “hold” rating and set a $575.00 price objective for the company. in a research report on Tuesday, April 6th. Berenberg Bank raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $683.00 price target for the company in a report on Thursday, April 22nd. Stifel Nicolaus raised their price target on shares of Align Technology from $650.00 to $750.00 and gave the company a “buy” rating in a report on Thursday, April 29th. Robert W. Baird raised their price target on shares of Align Technology from $655.00 to $745.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. Finally, Piper Sandler raised their price target on shares of Align Technology from $700.00 to $735.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $622.75.

Align Technology Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

Further Reading: Correction

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

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