MML Investors Services LLC Buys 543 Shares of Align Technology, Inc. (NASDAQ:ALGN)

MML Investors Services LLC lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 14.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,362 shares of the medical equipment provider’s stock after acquiring an additional 543 shares during the period. MML Investors Services LLC’s holdings in Align Technology were worth $1,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALGN. Advisors Asset Management Inc. grew its holdings in shares of Align Technology by 4.4% during the fourth quarter. Advisors Asset Management Inc. now owns 20,575 shares of the medical equipment provider’s stock worth $4,309,000 after purchasing an additional 858 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Align Technology by 14.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,845 shares of the medical equipment provider’s stock worth $3,318,000 after purchasing an additional 2,060 shares during the last quarter. ETF Managers Group LLC grew its holdings in shares of Align Technology by 15.5% during the fourth quarter. ETF Managers Group LLC now owns 513 shares of the medical equipment provider’s stock worth $107,000 after purchasing an additional 69 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Align Technology by 6.7% during the fourth quarter. M&T Bank Corp now owns 9,162 shares of the medical equipment provider’s stock worth $1,918,000 after purchasing an additional 572 shares during the last quarter. Finally, Buckingham Capital Management Inc. grew its holdings in shares of Align Technology by 26.8% during the fourth quarter. Buckingham Capital Management Inc. now owns 3,560 shares of the medical equipment provider’s stock worth $746,000 after purchasing an additional 752 shares during the last quarter. 82.63% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on ALGN. Credit Suisse Group boosted their price target on Align Technology from $305.00 to $316.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Piper Jaffray Companies boosted their price target on Align Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Zacks Investment Research cut Align Technology from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Barclays upped their target price on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, BidaskClub cut Align Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, May 24th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $339.31.



In other Align Technology news, CFO John Morici sold 2,374 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $286.91, for a total transaction of $681,124.34. Following the transaction, the chief financial officer now directly owns 2,913 shares in the company, valued at approximately $835,768.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Warren S. Thaler sold 3,115 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $312.53, for a total value of $973,530.95. Following the transaction, the director now owns 47,979 shares in the company, valued at $14,994,876.87. The disclosure for this sale can be found here. Insiders have sold a total of 55,283 shares of company stock worth $17,483,871 over the last 90 days. Company insiders own 1.30% of the company’s stock.

ALGN stock traded down $2.33 during trading on Wednesday, hitting $306.55. The company had a trading volume of 7,167 shares, compared to its average volume of 1,292,928. Align Technology, Inc. has a one year low of $177.93 and a one year high of $398.88. The stock has a market capitalization of $25.03 billion, a PE ratio of 62.32, a PEG ratio of 2.43 and a beta of 2.14.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.06. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The business had revenue of $549.00 million for the quarter, compared to analysts’ expectations of $532.16 million. During the same period in the prior year, the business posted $1.17 earnings per share. The firm’s revenue was up 25.7% on a year-over-year basis. Sell-side analysts predict that Align Technology, Inc. will post 5.4 earnings per share for the current year.

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Align Technology Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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

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