New Amsterdam Partners LLC NY Lowers Holdings in Align Technology, Inc. (ALGN)

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New Amsterdam Partners LLC NY reduced its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.8% during the 3rd quarter, Holdings Channel reports. The firm owned 12,856 shares of the medical equipment provider’s stock after selling 646 shares during the period. Align Technology accounts for approximately 1.3% of New Amsterdam Partners LLC NY’s investment portfolio, making the stock its 25th biggest holding. New Amsterdam Partners LLC NY’s holdings in Align Technology were worth $5,030,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. FMR LLC boosted its holdings in shares of Align Technology by 251.6% in the second quarter. FMR LLC now owns 1,705,510 shares of the medical equipment provider’s stock valued at $583,523,000 after acquiring an additional 1,220,448 shares in the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Align Technology in the second quarter valued at about $148,376,000. BlackRock Inc. boosted its holdings in shares of Align Technology by 1.7% in the second quarter. BlackRock Inc. now owns 5,150,916 shares of the medical equipment provider’s stock valued at $1,762,334,000 after acquiring an additional 84,512 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in shares of Align Technology by 66.0% in the second quarter. First Republic Investment Management Inc. now owns 201,947 shares of the medical equipment provider’s stock valued at $69,094,000 after acquiring an additional 80,293 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Align Technology by 702.4% in the second quarter. Sei Investments Co. now owns 91,371 shares of the medical equipment provider’s stock valued at $31,262,000 after acquiring an additional 79,984 shares in the last quarter. 78.54% of the stock is currently owned by institutional investors.

In other news, CMO Raphael Pascaud sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $361.00, for a total value of $3,790,500.00. Following the completion of the transaction, the chief marketing officer now owns 25,087 shares of the company’s stock, valued at $9,056,407. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Simon Beard sold 3,895 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $384.48, for a total transaction of $1,497,549.60. Following the completion of the sale, the senior vice president now owns 3,577 shares of the company’s stock, valued at $1,375,284.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,648 shares of company stock valued at $20,577,327. 1.40% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a report on Friday, August 17th. BidaskClub downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a report on Saturday, October 13th. Leerink Swann lifted their target price on shares of Align Technology from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Morgan Stanley lowered their target price on shares of Align Technology from $320.00 to $300.00 and set an “equal weight” rating on the stock in a report on Thursday, October 25th. Finally, Barclays reissued a “buy” rating on shares of Align Technology in a report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $354.08.

Shares of ALGN opened at $229.37 on Wednesday. The stock has a market cap of $18.45 billion, a price-to-earnings ratio of 58.96, a price-to-earnings-growth ratio of 1.99 and a beta of 2.00. Align Technology, Inc. has a 12-month low of $203.12 and a 12-month high of $398.88.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The company had revenue of $505.30 million during the quarter, compared to analysts’ expectations of $503.14 million. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. Equities analysts expect that Align Technology, Inc. will post 4.89 EPS for the current year.

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Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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