Viking Global Investors LP reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 542,532 shares of the medical equipment provider’s stock after selling 39,435 shares during the period. Viking Global Investors LP owned approximately 0.68% of Align Technology worth $120,545,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service increased its holdings in Align Technology by 98,968.3% in the 4th quarter. National Pension Service now owns 81,236 shares of the medical equipment provider’s stock valued at $18,050,000 after acquiring an additional 81,154 shares during the last quarter. Rhumbline Advisers increased its holdings in Align Technology by 4.9% in the 3rd quarter. Rhumbline Advisers now owns 150,816 shares of the medical equipment provider’s stock valued at $28,092,000 after acquiring an additional 7,032 shares during the last quarter. APG Asset Management N.V. increased its holdings in Align Technology by 113.1% in the 4th quarter. APG Asset Management N.V. now owns 107,400 shares of the medical equipment provider’s stock valued at $19,873,000 after acquiring an additional 57,000 shares during the last quarter. HWG Holdings LP increased its holdings in Align Technology by 579.3% in the 4th quarter. HWG Holdings LP now owns 3,057 shares of the medical equipment provider’s stock valued at $679,000 after acquiring an additional 2,607 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Align Technology by 1,899.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 101,435 shares of the medical equipment provider’s stock valued at $18,894,000 after acquiring an additional 96,361 shares during the last quarter. Institutional investors own 80.60% of the company’s stock.
In related news, VP Emory Wright sold 45,780 shares of the stock in a transaction 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 sale, the vice president now directly 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 accessible through this link. Also, insider Joseph M. Hogan purchased 1,500 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average cost of $233.63 per share, for a total transaction of $350,445.00. Following the completion of the acquisition, the insider now directly owns 42,984 shares of the company’s stock, valued at approximately $10,042,351.92. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.
Align Technology, Inc. (ALGN) traded down $2.46 during mid-day trading on Friday, hitting $270.41. 792,775 shares of the company were exchanged, compared to its average volume of 845,357. Align Technology, Inc. has a 52-week low of $110.25 and a 52-week high of $287.32. The stock has a market cap of $21,669.31, a PE ratio of 95.21, a PEG ratio of 2.04 and a beta of 1.44.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.23. The firm had revenue of $421.30 million during the quarter, compared to analysts’ expectations of $395.88 million. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The firm’s revenue for the quarter was up 43.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 EPS. analysts anticipate that Align Technology, Inc. will post 4.52 EPS for the current year.
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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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