Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 57.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,638 shares of the medical equipment provider’s stock after selling 304,654 shares during the period. JPMorgan Chase & Co.’s holdings in Align Technology were worth $52,692,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of Align Technology by 11.0% in the first quarter. BlackRock Inc. now owns 6,373,398 shares of the medical equipment provider’s stock valued at $2,778,802,000 after buying an additional 630,238 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Align Technology by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,946,834 shares of the medical equipment provider’s stock valued at $2,592,819,000 after buying an additional 75,255 shares during the last quarter. Polen Capital Management LLC raised its position in shares of Align Technology by 5.3% in the first quarter. Polen Capital Management LLC now owns 1,871,737 shares of the medical equipment provider’s stock valued at $816,077,000 after buying an additional 94,539 shares during the last quarter. Wellington Management Group LLP increased its position in Align Technology by 23.0% during the first quarter. Wellington Management Group LLP now owns 1,798,137 shares of the medical equipment provider’s stock worth $783,989,000 after purchasing an additional 336,781 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in Align Technology by 68.5% during the second quarter. Brown Advisory Inc. now owns 798,988 shares of the medical equipment provider’s stock worth $189,097,000 after purchasing an additional 324,743 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In other news, CEO Joseph M. Hogan bought 10,600 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The stock was acquired at an average cost of $188.58 per share, for a total transaction of $1,998,948.00. Following the completion of the purchase, the chief executive officer now owns 185,401 shares of the company’s stock, valued at $34,962,920.58. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Warren S. Thaler acquired 1,050 shares of Align Technology stock in a transaction on Wednesday, November 2nd. The shares were purchased at an average cost of $191.21 per share, for a total transaction of $200,770.50. Following the purchase, the director now directly owns 30,666 shares of the company’s stock, valued at approximately $5,863,645.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph M. Hogan acquired 10,600 shares of Align Technology stock in a transaction on Wednesday, November 2nd. The shares were bought at an average price of $188.58 per share, for a total transaction of $1,998,948.00. Following the completion of the purchase, the chief executive officer now directly owns 185,401 shares in the company, valued at $34,962,920.58. The disclosure for this purchase can be found here. Insiders own 0.64% of the company’s stock.

Align Technology Stock Up 2.6 %

ALGN opened at $196.28 on Friday. The company has a market cap of $15.33 billion, a P/E ratio of 30.34, a P/E/G ratio of 26.78 and a beta of 1.68. The company has a 50 day moving average of $207.51 and a two-hundred day moving average of $243.37. Align Technology, Inc. has a 52-week low of $172.05 and a 52-week high of $688.60.

Align Technology (NASDAQ:ALGNGet Rating) last announced its earnings results on Wednesday, October 26th. The medical equipment provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.58). The firm had revenue of $890.35 million during the quarter, compared to analysts’ expectations of $973.00 million. Align Technology had a net margin of 13.22% and a return on equity of 14.39%. Align Technology’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.28 earnings per share. Research analysts anticipate that Align Technology, Inc. will post 5.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ALGN shares. Morgan Stanley dropped their price target on shares of Align Technology from $402.00 to $314.00 and set an “overweight” rating for the company in a research report on Thursday, October 27th. The Goldman Sachs Group dropped their price target on shares of Align Technology from $250.00 to $165.00 and set a “sell” rating for the company in a research report on Thursday, October 27th. Stephens dropped their price target on shares of Align Technology from $500.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Evercore ISI dropped their price target on shares of Align Technology from $310.00 to $285.00 in a research report on Thursday, July 28th. Finally, UBS Group dropped their price target on shares of Align Technology from $380.00 to $370.00 and set a “buy” rating for the company in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and a consensus target price of $298.00.

About Align Technology

(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.

Further Reading

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:ALGNGet Rating).

Institutional Ownership by Quarter for Align Technology (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.