DNB Asset Management AS Buys 716 Shares of Align Technology, Inc. (NASDAQ:ALGN)

DNB Asset Management AS boosted its stake in Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,526 shares of the medical equipment provider’s stock after acquiring an additional 716 shares during the period. DNB Asset Management AS’s holdings in Align Technology were worth $5,897,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ALGN. Harbor Investment Advisory LLC boosted its holdings in Align Technology by 200.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 39 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 26 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Align Technology in the fourth quarter valued at approximately $39,000. Trust Co. of Vermont acquired a new position in Align Technology in the fourth quarter valued at approximately $49,000. SOA Wealth Advisors LLC. lifted its stake in Align Technology by 3,733.3% in the first quarter. SOA Wealth Advisors LLC. now owns 115 shares of the medical equipment provider’s stock valued at $50,000 after buying an additional 112 shares during the period. Finally, CVA Family Office LLC acquired a new position in Align Technology in the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 88.17% of the company’s stock.

NASDAQ ALGN opened at $235.09 on Thursday. The firm has a market capitalization of $18.53 billion, a P/E ratio of 26.44, a PEG ratio of 3.60 and a beta of 1.77. The business has a fifty day simple moving average of $293.41 and a 200 day simple moving average of $437.30. Align Technology, Inc. has a 12 month low of $225.86 and a 12 month high of $737.45.

Align Technology (NASDAQ:ALGN – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The medical equipment provider reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.29). The company had revenue of $973.22 million during the quarter, compared to analysts’ expectations of $1 billion. Align Technology had a net margin of 17.51% and a return on equity of 19.90%. During the same period in the previous year, the company posted $2.51 earnings per share. As a group, research analysts anticipate that Align Technology, Inc. will post 9 EPS for the current fiscal year.

Several equities analysts have issued reports on ALGN shares. TheStreet lowered Align Technology from a “b-” rating to a “c+” rating in a research note on Monday, April 25th. UBS Group dropped their price target on Align Technology from $620.00 to $500.00 and set a “buy” rating on the stock in a research note on Tuesday, April 26th. Piper Sandler dropped their price target on Align Technology from $600.00 to $440.00 in a research note on Thursday, April 28th. StockNews.com assumed coverage on Align Technology in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Morgan Stanley lowered their target price on Align Technology from $524.00 to $479.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 15th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $586.20.

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 1,000 shares of Align Technology stock in a transaction on Friday, May 13th. The stock was purchased at an average price of $264.42 per share, for a total transaction of $264,420.00. Following the purchase, the director now directly owns 18,190 shares of the company’s stock, valued at $4,809,799.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph M. Hogan acquired 6,700 shares of Align Technology stock in a transaction on Wednesday, May 4th. The stock was acquired at an average price of $298.48 per share, with a total value of $1,999,816.00. Following the purchase, the chief executive officer now directly owns 174,801 shares in the company, valued at $52,174,602.48. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

Align Technology Profile (Get Rating)

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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