Intrust Bank NA increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 52.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,113 shares of the medical equipment provider’s stock after acquiring an additional 381 shares during the period. Intrust Bank NA’s holdings in Align Technology were worth $233,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Align Technology by 2.2% in the 3rd quarter. BlackRock Inc. now owns 5,264,644 shares of the medical equipment provider’s stock valued at $2,059,633,000 after purchasing an additional 113,728 shares in the last quarter. FMR LLC raised its position in Align Technology by 6.2% in the 3rd quarter. FMR LLC now owns 1,811,522 shares of the medical equipment provider’s stock valued at $708,704,000 after purchasing an additional 106,012 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in Align Technology by 1.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 938,023 shares of the medical equipment provider’s stock valued at $366,973,000 after purchasing an additional 9,958 shares in the last quarter. Winslow Capital Management LLC raised its position in Align Technology by 30.2% in the 3rd quarter. Winslow Capital Management LLC now owns 564,651 shares of the medical equipment provider’s stock valued at $220,903,000 after purchasing an additional 130,982 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Align Technology by 22.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 480,391 shares of the medical equipment provider’s stock valued at $187,939,000 after purchasing an additional 88,731 shares in the last quarter. 82.64% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction that occurred 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 available at this link. Also, SVP Julie Tay sold 1,250 shares of Align Technology stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $254.58, for a total value of $318,225.00. Following the completion of the transaction, the senior vice president now owns 11,926 shares in the company, valued at $3,036,121.08. The disclosure for this sale can be found here. Insiders have sold a total of 25,014 shares of company stock worth $5,745,284 in the last 90 days. 1.40% of the stock is currently owned by company insiders.
ALGN has been the topic of a number of analyst reports. Zacks Investment Research lowered Align Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Morgan Stanley reduced their price target on Align Technology from $300.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 4th. BidaskClub raised Align Technology from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Robert W. Baird cut their target price on Align Technology from $330.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 2nd. Finally, Credit Suisse Group cut their target price on Align Technology from $277.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Align Technology presently has a consensus rating of “Buy” and a consensus target price of $329.65.
NASDAQ:ALGN opened at $254.96 on Tuesday. The company has a market cap of $20.39 billion, a P/E ratio of 51.82, a PEG ratio of 2.33 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 released its quarterly earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. The firm 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%. As a group, analysts expect that Align Technology, Inc. will post 5.02 earnings per share for the current fiscal year.
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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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