Strategy Asset Managers LLC Buys Shares of 16,895 Align Technology, Inc. (ALGN)

Strategy Asset Managers LLC bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 16,895 shares of the medical equipment provider’s stock, valued at approximately $3,147,000.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Align Technology by 16.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock valued at $1,095,740,000 after buying an additional 1,034,254 shares during the last quarter. Polen Capital Management LLC raised its position in shares of Align Technology by 6.8% in the 2nd quarter. Polen Capital Management LLC now owns 3,362,570 shares of the medical equipment provider’s stock worth $504,789,000 after buying an additional 212,773 shares during the period. State Street Corp increased its holdings in Align Technology by 32.2% in the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock valued at $471,823,000 after purchasing an additional 765,189 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Align Technology by 11.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,587,681 shares of the medical equipment provider’s stock valued at $238,343,000 after purchasing an additional 160,881 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its holdings in Align Technology by 35.8% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 968,086 shares of the medical equipment provider’s stock valued at $145,329,000 after purchasing an additional 255,000 shares in the last quarter. Hedge funds and other institutional investors own 80.86% of the company’s stock.

In related news, Director Greg J. Santora sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $238.95, for a total transaction of $1,839,915.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Raphael Pascaud sold 5,400 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $241.88, for a total value of $1,306,152.00. Following the sale, the chief marketing officer now directly owns 22,228 shares in the company, valued at approximately $5,376,508.64. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

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Several analysts recently issued reports on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $205.00 price target (up from $200.00) on shares of Align Technology in a report on Monday, August 7th. Morgan Stanley reiterated an “overweight” rating and issued a $182.00 price target (up from $175.00) on shares of Align Technology in a report on Monday, July 17th. Piper Jaffray Companies reiterated a “buy” rating and issued a $176.00 price target on shares of Align Technology in a report on Friday, July 28th. Robert W. Baird reiterated a “buy” rating and issued a $245.00 price target on shares of Align Technology in a report on Friday, October 27th. Finally, Credit Suisse Group increased their price target on Align Technology from $175.00 to $209.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Eleven analysts have rated the stock with a buy rating, Align Technology has a consensus rating of “Buy” and an average price target of $219.18.

Shares of Align Technology, Inc. (NASDAQ:ALGN) traded down $0.17 during midday trading on Monday, reaching $249.46. 927,500 shares of the company’s stock were exchanged, compared to its average volume of 1,006,116. Align Technology, Inc. has a 1 year low of $88.56 and a 1 year high of $254.19. The company has a market capitalization of $20,001.13, a PE ratio of 73.81, a P/E/G ratio of 2.39 and a beta of 1.42.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.19. The company had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. analysts forecast that Align Technology, Inc. will post 3.62 EPS for the current year.

Align Technology Company Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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

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