State of Alaska Department of Revenue reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,470 shares of the medical equipment provider’s stock after selling 524 shares during the quarter. State of Alaska Department of Revenue’s holdings in Align Technology were worth $3,544,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in ALGN. Captrust Financial Advisors increased its holdings in Align Technology by 67.6% during the 4th quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Berman Capital Advisors LLC purchased a new stake in Align Technology during the 4th quarter worth approximately $27,000. Gemmer Asset Management LLC increased its holdings in Align Technology by 57.3% during the 4th quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 51 shares during the last quarter. Sontag Advisory LLC purchased a new stake in Align Technology during the 4th quarter worth approximately $30,000. Finally, JOYN Advisors Inc. increased its holdings in Align Technology by 153.4% during the 4th quarter. JOYN Advisors Inc. now owns 147 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.
In related news, Director Yuval Shaked sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $255.52, for a total transaction of $102,208.00. Following the completion of the transaction, the director now owns 24 shares in the company, valued at approximately $6,132.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Julie Tay sold 1,250 shares of the business’s 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 transaction, the senior vice president now owns 11,926 shares of the company’s stock, valued at approximately $3,036,121.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,650 shares of company stock valued at $5,586,633. Insiders own 1.40% of the company’s stock.
Several equities research analysts have issued reports on the company. BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Leerink Swann dropped their price objective on Align Technology from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Wednesday, January 30th. They noted that the move was a valuation call. UBS Group assumed coverage on Align Technology in a report on Thursday, January 17th. They set a “buy” rating and a $230.00 price objective on the stock. Piper Jaffray Companies lifted their price objective on Align Technology from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, ValuEngine upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Wednesday, December 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $325.73.
Shares of ALGN opened at $293.08 on Friday. The company has a market capitalization of $23.17 billion, a PE ratio of 59.57, a PEG ratio of 2.64 and a beta of 2.13. Align Technology, Inc. has a 52 week low of $177.93 and a 52 week high of $398.88.
Align Technology (NASDAQ:ALGN) last issued its earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. The company had revenue of $534.02 million during the quarter, compared to analyst estimates of $512.03 million. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. Research analysts expect that Align Technology, Inc. will post 5.08 earnings per share for the current year.
Align Technology Profile
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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