TCW Group Inc. Has $111.82 Million Stake in Align Technology, Inc. (ALGN)

TCW Group Inc. lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 32.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 285,817 shares of the medical equipment provider’s stock after acquiring an additional 70,796 shares during the quarter. TCW Group Inc.’s holdings in Align Technology were worth $111,818,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. United Services Automobile Association lifted its holdings in shares of Align Technology by 1.7% in the 2nd quarter. United Services Automobile Association now owns 58,876 shares of the medical equipment provider’s stock worth $20,144,000 after acquiring an additional 995 shares during the last quarter. Iberiabank Corp lifted its holdings in Align Technology by 28.8% during the 3rd quarter. Iberiabank Corp now owns 9,305 shares of the medical equipment provider’s stock worth $3,640,000 after buying an additional 2,081 shares in the last quarter. Sapphire Star Partners LP acquired a new stake in Align Technology during the 2nd quarter worth approximately $237,000. HRT Financial LLC acquired a new stake in Align Technology during the 2nd quarter worth approximately $892,000. Finally, Elmwood Wealth Management Inc. acquired a new stake in Align Technology during the 2nd quarter worth approximately $890,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

In other news, insider Joseph M. Hogan sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $367.48, for a total value of $9,187,000.00. Following the sale, the insider now directly owns 105,713 shares in the company, valued at approximately $38,847,413.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stuart A. Hockridge sold 2,753 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $366.73, for a total transaction of $1,009,607.69. The disclosure for this sale can be found here. Insiders sold a total of 55,648 shares of company stock worth $20,577,327 over the last 90 days. Company insiders own 1.40% of the company’s stock.



A number of equities research analysts have issued reports on ALGN shares. BidaskClub upgraded shares of Align Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Stifel Nicolaus increased their target price on shares of Align Technology from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, July 13th. Zacks Investment Research lowered shares of Align Technology from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Piper Jaffray Companies increased their target price on shares of Align Technology to $425.00 and gave the stock an “overweight” rating in a report on Friday, July 20th. Finally, Goldman Sachs Group started coverage on shares of Align Technology in a report on Saturday, October 20th. They set a “buy” rating and a $420.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $354.08.

Shares of ALGN traded down $1.92 during midday trading on Tuesday, reaching $216.02. The stock had a trading volume of 67,017 shares, compared to its average volume of 1,750,279. Align Technology, Inc. has a 1-year low of $203.12 and a 1-year high of $398.88. The firm has a market capitalization of $18.48 billion, a price-to-earnings ratio of 55.99, a PEG ratio of 1.99 and a beta of 1.52.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.05. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. The business had revenue of $505.30 million for the quarter, compared to analyst estimates of $503.14 million. During the same period last year, the business earned $1.01 EPS. The company’s revenue was up 31.1% on a year-over-year basis. Equities research analysts expect that Align Technology, Inc. will post 4.9 EPS for the current year.

Align Technology 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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