Keybank National Association OH increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 149.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,580 shares of the medical equipment provider’s stock after acquiring an additional 3,343 shares during the period. Keybank National Association OH’s holdings in Align Technology were worth $1,039,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. bought a new position in shares of Align Technology in the third quarter valued at approximately $107,000. CENTRAL TRUST Co boosted its holdings in shares of Align Technology by 128.5% in the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock valued at $105,000 after acquiring an additional 392 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Align Technology in the second quarter valued at approximately $104,000. Bronfman E.L. Rothschild L.P. boosted its holdings in Align Technology by 13.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after buying an additional 105 shares in the last quarter. Finally, BlueMountain Capital Management LLC bought a new stake in Align Technology during the second quarter worth approximately $148,000. Institutional investors and hedge funds own 80.86% of the company’s stock.
A number of analysts recently weighed in on the stock. Credit Suisse Group restated a “positive” rating and set a $261.00 target price (up from $209.00) on shares of Align Technology in a report on Thursday, November 9th. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price for the company in a report on Monday, October 30th. Stifel Nicolaus raised their target price on shares of Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Robert W. Baird restated a “buy” rating and set a $245.00 target price on shares of Align Technology in a report on Friday, October 27th. Finally, Leerink Swann restated an “outperform” rating and set a $250.00 target price on shares of Align Technology in a report on Friday, October 27th. Eleven research analysts have rated the stock with a buy rating, Align Technology presently has an average rating of “Buy” and an average price target of $219.18.
In related news, CMO Raphael Pascaud sold 5,400 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $241.88, for a total value of $1,306,152.00. Following the completion of the transaction, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at approximately $5,376,508.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg J. Santora sold 7,700 shares of the firm’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 disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Align Technology, Inc. (NASDAQ:ALGN) opened at $253.73 on Tuesday. Align Technology, Inc. has a 52 week low of $88.56 and a 52 week high of $257.60. The company has a market cap of $20,001.13, a P/E ratio of 73.81, a P/E/G ratio of 2.39 and a beta of 1.42.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.19. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The firm had revenue of $385.30 million during the quarter, compared to analyst estimates of $359.80 million. During the same quarter last year, the business posted $0.63 EPS. The company’s revenue was up 38.3% on a year-over-year basis. equities research analysts predict that Align Technology, Inc. will post 3.62 earnings per share for the current year.
About Align Technology
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.
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