Great Lakes Advisors LLC lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 66.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,857 shares of the medical equipment provider’s stock after selling 7,665 shares during the quarter. Great Lakes Advisors LLC’s holdings in Align Technology were worth $698,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. WINTON GROUP Ltd lifted its holdings in shares of Align Technology by 43.5% in the 2nd quarter. WINTON GROUP Ltd now owns 2,640 shares of the medical equipment provider’s stock worth $723,000 after purchasing an additional 800 shares during the last quarter. TrimTabs Asset Management LLC bought a new stake in shares of Align Technology in the 2nd quarter worth approximately $1,029,000. RDA Financial Network increased its position in Align Technology by 10.4% in the 2nd quarter. RDA Financial Network now owns 2,524 shares of the medical equipment provider’s stock valued at $687,000 after acquiring an additional 237 shares during the period. Chicago Capital LLC acquired a new stake in Align Technology in the 2nd quarter valued at approximately $492,000. Finally, Heritage Investors Management Corp increased its position in Align Technology by 19.9% in the 2nd quarter. Heritage Investors Management Corp now owns 7,817 shares of the medical equipment provider’s stock valued at $2,140,000 after acquiring an additional 1,296 shares during the period. Institutional investors own 88.88% of the company’s stock.
In related news, Director Andrea Lynn Saia sold 4,157 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $179.54, for a total transaction of $746,347.78. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $177.64, for a total value of $1,776,400.00. The disclosure for this sale can be found here. Insiders have sold 36,817 shares of company stock worth $8,328,673 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
Shares of ALGN stock opened at $263.92 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.73. The business’s fifty day moving average is $221.43 and its 200-day moving average is $243.62. The stock has a market cap of $20.53 billion, a PE ratio of 53.64, a price-to-earnings-growth ratio of 2.28 and a beta of 2.07. Align Technology, Inc. has a 1 year low of $169.84 and a 1 year high of $334.64.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.14. Align Technology had a return on equity of 28.76% and a net margin of 18.28%. The firm had revenue of $607.30 million for the quarter, compared to analyst estimates of $595.29 million. During the same period in the previous year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts predict that Align Technology, Inc. will post 5.17 earnings per share for the current year.
Several analysts recently commented on the company. Guggenheim cut Align Technology from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $200.00 in a research report on Monday, October 7th. Bank of America raised their target price on Align Technology from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. ValuEngine cut Align Technology from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Robert W. Baird lowered their price target on Align Technology from $336.00 to $259.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Stifel Nicolaus lowered their price target on Align Technology from $360.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $255.27.
About Align Technology
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
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