Gemmer Asset Management LLC increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 71.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 240 shares of the medical equipment provider’s stock after acquiring an additional 100 shares during the period. Gemmer Asset Management LLC’s holdings in Align Technology were worth $68,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of ALGN. Captrust Financial Advisors boosted its holdings in Align Technology by 67.6% in the 4th quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Berman Capital Advisors LLC acquired a new stake in Align Technology in the 4th quarter worth about $27,000. Sontag Advisory LLC acquired a new stake in Align Technology in the 4th quarter worth about $30,000. JOYN Advisors Inc. boosted its holdings in Align Technology by 153.4% in the 4th quarter. JOYN Advisors Inc. now owns 147 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 89 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA boosted its holdings in Align Technology by 726.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 157 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.
ALGN has been the topic of several research analyst reports. ValuEngine upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. UBS Group began coverage on Align Technology in a report on Thursday, January 17th. They issued a “buy” rating and a $230.00 price objective on the stock. Barclays reissued a “buy” rating and issued a $275.00 target price on shares of Align Technology in a research note on Sunday, January 6th. BidaskClub raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley reduced their price target on shares of 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the stock. Align Technology has a consensus rating of “Buy” and an average target price of $329.07.
Shares of NASDAQ ALGN opened at $288.38 on Wednesday. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 58.61, a PEG ratio of 2.67 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 announced its earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The company had revenue of $534.02 million for 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%. As a group, equities research analysts expect that Align Technology, Inc. will post 5.08 EPS for the current year.
In other Align Technology news, Director Joseph Lacob sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $258.31, for a total value of $5,166,200.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the sale, the senior vice president now directly owns 11,926 shares in the company, valued at approximately $3,036,121.08. The disclosure for this sale can be found here. In the last three months, insiders sold 21,650 shares of company stock worth $5,586,633. 1.40% of the stock is owned by corporate insiders.
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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