DSAM Partners London Ltd acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,168 shares of the medical equipment provider’s stock, valued at approximately $926,000.
A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Align Technology by 32.2% in the second quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after purchasing an additional 765,189 shares during the period. Bank of New York Mellon Corp boosted its position in Align Technology by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 1,946,097 shares of the medical equipment provider’s stock valued at $362,499,000 after buying an additional 42,570 shares during the period. Janus Henderson Group PLC boosted its position in Align Technology by 26.6% during the third quarter. Janus Henderson Group PLC now owns 752,014 shares of the medical equipment provider’s stock valued at $140,077,000 after buying an additional 157,890 shares during the period. Atlantic Trust Group LLC boosted its position in Align Technology by 4,682.8% during the third quarter. Atlantic Trust Group LLC now owns 638,935 shares of the medical equipment provider’s stock valued at $119,014,000 after buying an additional 625,576 shares during the period. Finally, American Century Companies Inc. boosted its position in Align Technology by 42.8% during the fourth quarter. American Century Companies Inc. now owns 391,958 shares of the medical equipment provider’s stock valued at $87,089,000 after buying an additional 117,533 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.
ALGN has been the subject of several analyst reports. Robert W. Baird set a $208.00 price target on shares of Align Technology and gave the company a “buy” rating in a research report on Wednesday, October 18th. Stifel Nicolaus reiterated a “buy” rating and set a $225.00 target price (up from $205.00) on shares of Align Technology in a report on Thursday, October 19th. Leerink Swann reiterated an “outperform” rating and set a $250.00 target price on shares of Align Technology in a report on Friday, October 27th. Credit Suisse Group increased their target price on shares of Align Technology from $175.00 to $209.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price for the company in a report on Monday, October 30th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Align Technology has a consensus rating of “Buy” and an average target price of $258.54.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.23. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The business had revenue of $421.30 million during the quarter, compared to the consensus estimate of $395.88 million. During the same quarter last year, the firm earned $0.59 earnings per share. The business’s revenue for the quarter was up 43.7% on a year-over-year basis. equities research analysts forecast that Align Technology, Inc. will post 4.49 EPS for the current year.
In related news, VP Emory Wright sold 45,780 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the completion of the sale, the vice president now owns 29,957 shares of the company’s stock, valued at $7,791,216.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Morici sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $255.00, for a total transaction of $382,500.00. Following the sale, the chief financial officer now directly owns 1,544 shares of the company’s stock, valued at approximately $393,720. The disclosure for this sale can be found here. Insiders have sold 82,029 shares of company stock valued at $21,369,243 in the last ninety days. Insiders own 1.60% of the company’s stock.
Align Technology Company Profile
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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