DekaBank Deutsche Girozentrale grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 13.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,090 shares of the medical equipment provider’s stock after purchasing an additional 954 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Align Technology were worth $2,166,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ALGN. Alliancebernstein L.P. boosted its position in Align Technology by 108.7% during the first quarter. Alliancebernstein L.P. now owns 1,870,400 shares of the medical equipment provider’s stock worth $325,356,000 after purchasing an additional 974,064 shares during the period. FDx Advisors Inc. lifted its holdings in shares of Align Technology by 1,115.6% in the first quarter. FDx Advisors Inc. now owns 659,942 shares of the medical equipment provider’s stock worth $6,013,000 after buying an additional 605,651 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Align Technology by 10,154.9% in the first quarter. Thrivent Financial for Lutherans now owns 335,233 shares of the medical equipment provider’s stock worth $58,314,000 after buying an additional 331,964 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Align Technology by 164.4% in the first quarter. Champlain Investment Partners LLC now owns 513,565 shares of the medical equipment provider’s stock worth $89,335,000 after buying an additional 319,330 shares in the last quarter. Finally, Polen Capital Management LLC lifted its holdings in shares of Align Technology by 7.5% in the first quarter. Polen Capital Management LLC now owns 3,039,006 shares of the medical equipment provider’s stock worth $528,635,000 after buying an additional 212,224 shares in the last quarter. Hedge funds and other institutional investors own 86.02% of the company’s stock.
ALGN stock opened at $306.96 on Friday. The company has a market capitalization of $23.86 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 21.26 and a beta of 1.99. Align Technology, Inc. has a one year low of $127.88 and a one year high of $326.36. The company’s 50 day moving average price is $291.96 and its two-hundred day moving average price is $241.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.08 and a current ratio of 1.22.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 22nd. The medical equipment provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.06). The business had revenue of $352.31 million for the quarter, compared to analysts’ expectations of $345.50 million. Align Technology had a return on equity of 81.50% and a net margin of 78.75%. During the same period last year, the business posted $1.83 earnings per share. On average, research analysts predict that Align Technology, Inc. will post 1.15 EPS for the current year.
In other news, CMO Vamsi Mohan Raj Pudipeddi sold 2,346 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $230.09, for a total value of $539,791.14. Following the transaction, the chief marketing officer now owns 1,246 shares in the company, valued at $286,692.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Julie Tay sold 1,550 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $310.00, for a total transaction of $480,500.00. Following the completion of the transaction, the senior vice president now owns 23,692 shares in the company, valued at approximately $7,344,520. The disclosure for this sale can be found here. Insiders have sold 69,266 shares of company stock worth $19,358,164 over the last three months. Insiders own 1.20% of the company’s stock.
A number of equities research analysts have recently issued reports on ALGN shares. Berenberg Bank downgraded shares of Align Technology from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a report on Wednesday, July 29th. Stifel Nicolaus increased their price target on shares of Align Technology from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Barclays downgraded shares of Align Technology from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $225.00 to $300.00 in a report on Thursday, July 23rd. Bank of America downgraded shares of Align Technology from a “neutral” rating to an “underperform” rating and set a $280.00 price target on the stock. in a report on Monday, July 20th. Finally, OTR Global raised shares of Align Technology to a “positive” rating in a research note on Friday, June 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $279.00.
Align Technology Profile
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
Further Reading: Short Selling Stocks, A Beginner’s Guide
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.