TCW Group Inc. Has $188.23 Million Position in Align Technology, Inc. (NASDAQ:ALGN)

TCW Group Inc. reduced its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 19.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 347,591 shares of the medical equipment provider’s stock after selling 84,565 shares during the period. Align Technology makes up about 1.8% of TCW Group Inc.’s investment portfolio, making the stock its 14th biggest position. TCW Group Inc. owned approximately 0.44% of Align Technology worth $188,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Align Technology by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,559,797 shares of the medical equipment provider’s stock valued at $833,524,000 after buying an additional 48,077 shares during the period. Janus Henderson Group PLC lifted its holdings in Align Technology by 3.6% in the fourth quarter. Janus Henderson Group PLC now owns 1,363,804 shares of the medical equipment provider’s stock valued at $728,775,000 after buying an additional 47,143 shares during the period. JPMorgan Chase & Co. lifted its holdings in Align Technology by 599.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,172,833 shares of the medical equipment provider’s stock valued at $626,739,000 after buying an additional 1,005,263 shares during the period. Nuveen Asset Management LLC lifted its holdings in Align Technology by 33.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,135,480 shares of the medical equipment provider’s stock valued at $606,778,000 after buying an additional 286,607 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Align Technology by 1.7% in the fourth quarter. Wells Fargo & Company MN now owns 997,198 shares of the medical equipment provider’s stock valued at $532,883,000 after buying an additional 16,866 shares during the period. Institutional investors and hedge funds own 85.84% of the company’s stock.

In related news, SVP Stuart A. Hockridge sold 5,602 shares of the stock in a transaction on Wednesday, February 24th. The shares were sold at an average price of $573.27, for a total transaction of $3,211,458.54. Also, SVP Emory Wright sold 5,533 shares of the stock in a transaction on Friday, May 7th. The stock was sold at an average price of $595.00, for a total transaction of $3,292,135.00. The disclosure for this sale can be found here. Insiders have sold 18,635 shares of company stock valued at $11,027,119 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Several brokerages have commented on ALGN. SVB Leerink upped their target price on shares of Align Technology from $690.00 to $770.00 and gave the company an “outperform” rating in a research note on Wednesday, May 5th. Stifel Nicolaus upped their target price on shares of Align Technology from $650.00 to $750.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Barclays upped their target price on shares of Align Technology from $475.00 to $555.00 and gave the company an “equal weight” rating in a research note on Thursday, February 4th. Robert W. Baird upped their target price on shares of Align Technology from $655.00 to $745.00 and gave the company an “outperform” rating in a research note on Thursday, April 29th. Finally, Berenberg Bank raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $683.00 target price for the company in a research note on Wednesday, April 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $622.75.

Shares of ALGN stock opened at $569.04 on Monday. The firm has a fifty day moving average of $579.57 and a 200-day moving average of $540.11. Align Technology, Inc. has a 12-month low of $199.56 and a 12-month high of $647.20. The company has a market capitalization of $45.03 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 4.07 and a beta of 1.68.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Tuesday, April 27th. The medical equipment provider reported $2.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.47. Align Technology had a net margin of 76.00% and a return on equity of 68.99%. The business had revenue of $894.80 million during the quarter, compared to analysts’ expectations of $810.27 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The firm’s revenue was up 62.4% on a year-over-year basis. As a group, sell-side analysts predict that Align Technology, Inc. will post 3.34 earnings per share for the current fiscal year.

Align Technology Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

See Also: Momentum Indicator: Relative Strength Index

Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGN).

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

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.