Acadian Asset Management LLC lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 1,805.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,969 shares of the medical equipment provider’s stock after acquiring an additional 106,093 shares during the period. Acadian Asset Management LLC owned about 0.14% of Align Technology worth $24,879,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. CAPROCK Group Inc. increased its position in shares of Align Technology by 13.2% in the fourth quarter. CAPROCK Group Inc. now owns 1,834 shares of the medical equipment provider’s stock worth $474,000 after acquiring an additional 214 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Align Technology by 0.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 260,757 shares of the medical equipment provider’s stock worth $57,938,000 after acquiring an additional 851 shares in the last quarter. HWG Holdings LP increased its position in shares of Align Technology by 579.3% in the fourth quarter. HWG Holdings LP now owns 3,057 shares of the medical equipment provider’s stock worth $679,000 after acquiring an additional 2,607 shares in the last quarter. National Pension Service increased its position in shares of Align Technology by 98,968.3% in the fourth quarter. National Pension Service now owns 81,236 shares of the medical equipment provider’s stock worth $18,050,000 after acquiring an additional 81,154 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. purchased a new position in shares of Align Technology in the fourth quarter worth approximately $226,000. 82.95% of the stock is currently owned by institutional investors and hedge funds.
Align Technology, Inc. (NASDAQ ALGN) opened at $269.46 on Friday. Align Technology, Inc. has a 1 year low of $88.56 and a 1 year high of $273.60. The company has a market cap of $21,510.00, a P/E ratio of 81.90, a P/E/G ratio of 2.12 and a beta of 1.43.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $359.80 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The firm’s revenue was up 38.3% on a year-over-year basis. sell-side analysts predict that Align Technology, Inc. will post 3.67 EPS for the current fiscal year.
ALGN has been the topic of several analyst reports. Robert W. Baird reissued a “buy” rating and issued a $245.00 target price on shares of Align Technology in a research report on Friday, October 27th. Stifel Nicolaus lifted their target price on shares of Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Northcoast Research reaffirmed a “buy” rating and set a $230.00 price objective (up from $200.00) on shares of Align Technology in a research report on Tuesday, October 10th. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price objective on the stock in a research report on Monday, October 30th. Finally, Credit Suisse Group raised shares of Align Technology to a “buy” rating and set a $276.00 price objective on the stock in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Align Technology has an average rating of “Buy” and an average target price of $236.23.
In other Align Technology news, VP Emory Wright sold 5,025 shares of Align Technology stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total value of $1,324,992.00. Following the completion of the sale, the vice president now directly owns 80,762 shares in the company, valued at $21,295,324.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Morici sold 1,500 shares of Align Technology stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $255.00, for a total transaction of $382,500.00. Following the completion of the sale, the chief financial officer now owns 1,544 shares of the company’s stock, valued at $393,720. The disclosure for this sale can be found here. Insiders have sold 52,849 shares of company stock worth $13,494,348 over the last ninety days. 1.60% of the stock is currently owned by insiders.
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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.
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