Mirae Asset Global Investments Co. Ltd. Has $22.97 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 64,951 shares of the medical equipment provider’s stock after selling 1,897 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.08% of Align Technology worth $22,969,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ALGN. Shelton Capital Management grew its holdings in shares of Align Technology by 2.2% in the 2nd quarter. Shelton Capital Management now owns 6,777 shares of the medical equipment provider’s stock valued at $2,397,000 after buying an additional 143 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Align Technology in the 2nd quarter valued at $594,000. Jupiter Asset Management Ltd. acquired a new position in shares of Align Technology in the 2nd quarter valued at $65,182,000. YHB Investment Advisors Inc. grew its holdings in shares of Align Technology by 58.8% in the 2nd quarter. YHB Investment Advisors Inc. now owns 8,621 shares of the medical equipment provider’s stock valued at $3,049,000 after buying an additional 3,191 shares during the period. Finally, Citigroup Inc. lifted its position in Align Technology by 14.4% in the 2nd quarter. Citigroup Inc. now owns 91,972 shares of the medical equipment provider’s stock valued at $32,525,000 after acquiring an additional 11,573 shares in the last quarter. Institutional investors and hedge funds own 87.07% of the company’s stock.

Insider Buying and Selling at Align Technology

In related news, CEO Joseph M. Hogan purchased 5,194 shares of the stock in a transaction on Thursday, November 9th. The shares were purchased at an average cost of $192.50 per share, with a total value of $999,845.00. Following the acquisition, the chief executive officer now directly owns 208,664 shares in the company, valued at $40,167,820. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Joseph M. Hogan purchased 5,194 shares of the stock in a transaction on Thursday, November 9th. The shares were purchased at an average cost of $192.50 per share, with a total value of $999,845.00. Following the acquisition, the chief executive officer now directly owns 208,664 shares in the company, valued at $40,167,820. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joseph M. Hogan purchased 5,319 shares of the stock in a transaction on Tuesday, October 31st. The stock was bought at an average cost of $188.00 per share, for a total transaction of $999,972.00. Following the completion of the acquisition, the chief executive officer now owns 203,470 shares in the company, valued at $38,252,360. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALGN. OTR Global raised shares of Align Technology from a “mixed” rating to a “positive” rating in a research report on Thursday, September 14th. Evercore ISI reduced their price objective on shares of Align Technology from $400.00 to $320.00 in a research note on Wednesday, October 11th. Robert W. Baird increased their price objective on shares of Align Technology from $385.00 to $406.00 in a research note on Thursday, July 27th. HSBC initiated coverage on shares of Align Technology in a research note on Wednesday, August 30th. They set a “buy” rating and a $450.00 price objective for the company. Finally, UBS Group downgraded shares of Align Technology from a “buy” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and a consensus target price of $336.60.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $215.24 on Tuesday. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The company has a market capitalization of $16.49 billion, a P/E ratio of 45.60, a price-to-earnings-growth ratio of 1.70 and a beta of 1.58. The company has a 50-day simple moving average of $257.33 and a 200 day simple moving average of $307.45.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.24). Align Technology had a net margin of 9.53% and a return on equity of 12.66%. The firm had revenue of $960.21 million during the quarter, compared to analyst estimates of $994.60 million. As a group, equities analysts forecast that Align Technology, Inc. will post 6.86 earnings per share for the current year.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).