Optimum Investment Advisors lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 21.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,100 shares of the medical equipment provider’s stock after selling 575 shares during the quarter. Optimum Investment Advisors’ holdings in Align Technology were worth $440,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of ALGN. FMR LLC increased its stake in shares of Align Technology by 251.6% during the second quarter. FMR LLC now owns 1,705,510 shares of the medical equipment provider’s stock valued at $583,523,000 after purchasing an additional 1,220,448 shares in the last quarter. Capital Investment Advisors LLC purchased a new position in shares of Align Technology during the 3rd quarter valued at $222,000. First Hawaiian Bank purchased a new position in shares of Align Technology during the 3rd quarter valued at $1,852,000. Andra AP fonden increased its holdings in Align Technology by 4.4% in the 3rd quarter. Andra AP fonden now owns 16,500 shares of the medical equipment provider’s stock valued at $6,455,000 after acquiring an additional 700 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Align Technology by 36.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 47,275 shares of the medical equipment provider’s stock valued at $18,495,000 after acquiring an additional 12,693 shares during the last quarter. 82.64% of the stock is currently owned by institutional investors.
In other news, Director Joseph Lacob sold 10,000 shares of the stock in a transaction on Friday, November 30th. The stock was sold at an average price of $231.82, for a total transaction of $2,318,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Sreelakshmi Kolli sold 5,000 shares of the stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $223.15, for a total value of $1,115,750.00. Following the transaction, the senior vice president now directly owns 27,180 shares in the company, valued at approximately $6,065,217. The disclosure for this sale can be found here. Insiders sold a total of 23,764 shares of company stock worth $5,427,059 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.
Shares of Align Technology stock opened at $241.26 on Monday. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 49.04, a price-to-earnings-growth ratio of 2.23 and a beta of 2.00. Align Technology, Inc. has a 52 week low of $177.93 and a 52 week high of $398.88.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Tuesday, January 29th. The medical equipment provider reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.04. The company had revenue of $534.02 million for the quarter, compared to the consensus estimate of $512.03 million. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. On average, equities research analysts expect that Align Technology, Inc. will post 5.02 earnings per share for the current fiscal year.
ALGN has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Align Technology from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Goldman Sachs Group began coverage on shares of Align Technology in a report on Saturday, October 20th. They issued a “buy” rating and a $420.00 target price on the stock. Stifel Nicolaus reduced their target price on shares of Align Technology from $425.00 to $346.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. ValuEngine downgraded shares of Align Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, October 26th. Finally, Robert W. Baird reduced their target price on shares of Align Technology from $425.00 to $330.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. One research analyst has 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 stock. The stock presently has a consensus rating of “Buy” and an average price target of $326.84.
Align Technology 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.
Further Reading: Price-Sales Ratio
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