Nisa Investment Advisors LLC lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,679 shares of the medical equipment provider’s stock after selling 1,662 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Align Technology were worth $7,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Crossmark Global Holdings Inc. purchased a new position in Align Technology in the 3rd quarter worth about $2,875,000. Rhumbline Advisers raised its position in Align Technology by 4.9% in the 3rd quarter. Rhumbline Advisers now owns 150,816 shares of the medical equipment provider’s stock worth $28,092,000 after buying an additional 7,032 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Align Technology in the 2nd quarter worth about $454,000. Aperio Group LLC raised its position in Align Technology by 38.5% in the 3rd quarter. Aperio Group LLC now owns 42,818 shares of the medical equipment provider’s stock worth $7,976,000 after buying an additional 11,892 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Align Technology in the 3rd quarter worth about $2,351,000. 82.95% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $225.00 target price (up previously from $205.00) on shares of Align Technology in a research report on Thursday, October 19th. Robert W. Baird set a $208.00 target price on Align Technology and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Credit Suisse Group raised Align Technology to a “buy” rating and set a $276.00 target price for the company in a research report on Thursday, January 4th. Morgan Stanley restated an “overweight” rating and set a $220.00 price target (up from $195.00) on shares of Align Technology in a research note on Friday, October 6th. Finally, Northcoast Research restated a “buy” rating and set a $230.00 price target (up from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $236.75.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.19. The business had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. equities analysts forecast that Align Technology, Inc. will post 3.67 EPS for the current year.
In related news, CMO Raphael Pascaud sold 5,400 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the completion of the transaction, the chief marketing officer now directly owns 22,228 shares in the company, valued at approximately $5,376,508.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Julie Tay sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $253.00, for a total value of $885,500.00. Following the transaction, the vice president now owns 12,213 shares of the company’s stock, valued at $3,089,889. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,849 shares of company stock valued at $13,494,348. Corporate insiders own 1.60% of the company’s stock.
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About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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