Stephens Inc. AR reduced its position in Align Technology, Inc. (NASDAQ:ALGN) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,296 shares of the medical equipment provider’s stock after selling 735 shares during the quarter. Stephens Inc. AR’s holdings in Align Technology were worth $10,208,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Align Technology by 4.4% during the 1st quarter. BlackRock Inc. now owns 7,239,770 shares of the medical equipment provider’s stock valued at $2,058,482,000 after acquiring an additional 304,685 shares during the period. Bessemer Group Inc. raised its holdings in Align Technology by 16,612.4% during the second quarter. Bessemer Group Inc. now owns 202,721 shares of the medical equipment provider’s stock worth $55,485,000 after buying an additional 201,508 shares during the last quarter. Redmile Group LLC acquired a new position in Align Technology during the first quarter worth $40,716,000. Frontier Capital Management Co. LLC raised its holdings in Align Technology by 93.6% during the first quarter. Frontier Capital Management Co. LLC now owns 201,861 shares of the medical equipment provider’s stock worth $57,395,000 after buying an additional 97,597 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Align Technology by 6.2% during the first quarter. Northern Trust Corp now owns 980,494 shares of the medical equipment provider’s stock worth $278,784,000 after buying an additional 57,586 shares during the last quarter. 83.14% of the stock is currently owned by institutional investors.
In other news, Director C Raymond Larkin, Jr. sold 9,734 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $296.65, for a total value of $2,887,591.10. Following the completion of the sale, the director now owns 50,257 shares in the company, valued at approximately $14,908,739.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Lacob sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $181.79, for a total transaction of $5,453,700.00. Following the completion of the sale, the director now owns 564 shares of the company’s stock, valued at approximately $102,529.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,223 shares of company stock valued at $10,935,336. Company insiders own 1.30% of the company’s stock.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.13. Align Technology had a net margin of 19.06% and a return on equity of 29.26%. The firm had revenue of $600.70 million during the quarter, compared to analyst estimates of $599.86 million. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was up 22.5% compared to the same quarter last year. On average, research analysts predict that Align Technology, Inc. will post 5.03 earnings per share for the current year.
Several research firms have weighed in on ALGN. Piper Jaffray Companies set a $240.00 price objective on shares of Align Technology and gave the stock a “buy” rating in a report on Wednesday, July 31st. Guggenheim began coverage on shares of Align Technology in a report on Wednesday, April 17th. They set a “buy” rating and a $335.00 price objective on the stock. Stifel Nicolaus lowered their price objective on shares of Align Technology from $360.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. BidaskClub downgraded shares of Align Technology from a “sell” rating to a “strong sell” rating in a report on Wednesday. Finally, Bank of America downgraded shares of Align Technology from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Align Technology presently has a consensus rating of “Buy” and a consensus price target of $297.91.
Align Technology Company 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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