Parametric Portfolio Associates LLC grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 245,946 shares of the medical equipment provider’s stock after acquiring an additional 11,479 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.31% of Align Technology worth $67,315,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Banco Santander S.A. boosted its holdings in shares of Align Technology by 49.9% during the second quarter. Banco Santander S.A. now owns 75,633 shares of the medical equipment provider’s stock valued at $20,701,000 after acquiring an additional 25,173 shares during the period. BBT Capital Management LLC acquired a new position in shares of Align Technology during the second quarter valued at $241,000. Brightworth boosted its holdings in shares of Align Technology by 12.0% during the second quarter. Brightworth now owns 11,478 shares of the medical equipment provider’s stock valued at $3,142,000 after acquiring an additional 1,233 shares during the period. Chicago Capital LLC acquired a new stake in Align Technology in the second quarter worth about $492,000. Finally, Allstate Corp lifted its holdings in Align Technology by 253.6% in the first quarter. Allstate Corp now owns 3,914 shares of the medical equipment provider’s stock worth $1,113,000 after purchasing an additional 2,807 shares during the period. 88.92% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the stock. UBS Group set a $230.00 price objective on shares of Align Technology and gave the stock a “hold” rating in a report on Friday, July 26th. ValuEngine raised shares of Align Technology from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Credit Suisse Group reduced their price objective on shares of Align Technology from $340.00 to $320.00 and set an “outperform” rating for the company 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, August 14th. Finally, 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. One investment 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’s stock. Align Technology has an average rating of “Buy” and a consensus target price of $297.91.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $1.26 EPS for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $599.86 million. During the same period in the previous year, the business earned $1.30 earnings per share. Align Technology’s revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, equities analysts anticipate that Align Technology, Inc. will post 5 EPS for the current year.
In other news, insider Joseph M. Hogan purchased 4,995 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $199.83 per share, with a total value of $998,150.85. Following the purchase, the insider now owns 165,440 shares in the company, valued at approximately $33,059,875.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $181.79, for a total value of $5,453,700.00. Following the completion of the sale, the director now directly 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 90 days, insiders have sold 44,157 shares of company stock worth $7,976,448. Corporate insiders own 1.30% of the company’s stock.
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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