Public Employees Retirement System of Ohio cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,834 shares of the medical equipment provider’s stock after selling 10,935 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.23% of Align Technology worth $34,615,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in ALGN. Whittier Trust Co. acquired a new position in shares of Align Technology in the third quarter valued at approximately $107,000. Schroder Investment Management Group acquired a new position in shares of Align Technology in the second quarter valued at approximately $104,000. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Align Technology by 13.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after purchasing an additional 105 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of Align Technology in the second quarter valued at approximately $148,000. Finally, Commonwealth Bank of Australia grew its holdings in shares of Align Technology by 10.5% in the second quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock valued at $169,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.
ALGN has been the subject of a number of research reports. Zacks Investment Research cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 21st. Piper Jaffray Companies restated a “buy” rating and issued a $200.00 price objective on shares of Align Technology in a report on Monday, September 11th. Robert W. Baird restated a “buy” rating on shares of Align Technology in a report on Tuesday, September 12th. Goldman Sachs Group lifted their price objective on shares of Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 15th. Finally, Morgan Stanley restated an “overweight” rating and issued a $220.00 price objective (up previously from $195.00) on shares of Align Technology in a report on Friday, October 6th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Align Technology presently has an average rating of “Buy” and a consensus target price of $236.75.
Align Technology, Inc. (NASDAQ:ALGN) opened at $233.55 on Friday. Align Technology, Inc. has a 12 month low of $88.56 and a 12 month high of $266.41. The stock has a market cap of $18,892.27, a P/E ratio of 69.71, a P/E/G ratio of 2.25 and a beta of 1.43.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (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 company had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was up 38.3% on a year-over-year basis. analysts expect that Align Technology, Inc. will post 3.62 earnings per share for the current fiscal year.
In other news, Director Greg J. Santora sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Lacob sold 29,724 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $260.91, for a total transaction of $7,755,288.84. The disclosure for this sale can be found here. Insiders sold 52,849 shares of company stock valued at $13,494,348 in the last quarter. 1.60% of the stock is owned by insiders.
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.
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).
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.