BI Asset Management Fondsmaeglerselskab A S trimmed its position in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 84.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 349 shares of the medical equipment provider’s stock after selling 1,826 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Align Technology were worth $96,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. EFG Asset Management Americas Corp. raised its holdings in shares of Align Technology by 3.6% during the 4th quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock valued at $320,000 after buying an additional 41 shares in the last quarter. Dfpg Investments LLC increased its stake in Align Technology by 3.3% in the 4th quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock worth $340,000 after purchasing an additional 42 shares during the period. Richard W. Paul & Associates LLC increased its stake in Align Technology by 2.8% in the 4th quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock worth $457,000 after purchasing an additional 45 shares during the period. Valley National Advisers Inc. increased its stake in Align Technology by 29.7% in the 3rd quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after purchasing an additional 49 shares during the period. Finally, Jag Capital Management LLC increased its stake in Align Technology by 4.1% in the 3rd quarter. Jag Capital Management LLC now owns 1,258 shares of the medical equipment provider’s stock worth $384,000 after purchasing an additional 50 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, Director Joseph Lacob sold 15,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the sale, the director now directly owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.62% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ALGN. SVB Leerink began coverage on Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. UBS Group lifted their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. The Goldman Sachs Group lifted their price objective on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. Stifel Nicolaus lifted their price objective on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and an average target price of $353.00.
View Our Latest Research Report on Align Technology
Align Technology Stock Up 1.3 %
Shares of ALGN stock opened at $255.62 on Friday. The stock has a market cap of $19.24 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 4.64 and a beta of 1.66. The business’s fifty day moving average is $299.95 and its 200 day moving average is $276.77. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20.
Align Technology (NASDAQ:ALGN – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.08. The company had revenue of $997.43 million for the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. Equities research analysts expect that Align Technology, Inc. will post 7.92 earnings per share for the current fiscal year.
Align Technology Company Profile
(Free Report)
Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company’s Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.
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