Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lessened its position in Align Technology, Inc. (NASDAQ:ALGNFree Report) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,346 shares of the medical equipment provider’s stock after selling 182 shares during the period. IFM Investors Pty Ltd’s holdings in Align Technology were worth $4,205,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. KB Financial Partners LLC acquired a new stake in Align Technology in the 1st quarter valued at about $26,000. Cornerstone Planning Group LLC acquired a new stake in shares of Align Technology in the second quarter worth $29,000. Huntington National Bank grew its holdings in shares of Align Technology by 94.9% during the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 56 shares in the last quarter. First Manhattan CO. LLC. raised its position in Align Technology by 593.8% during the first quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 95 shares during the period. Finally, ST Germain D J Co. Inc. purchased a new stake in Align Technology in the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 87.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ALGN shares. UBS Group lifted their target price on Align Technology from $200.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. SVB Leerink initiated coverage on shares of Align Technology in a research report on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. The Goldman Sachs Group boosted their price target on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus increased their price objective on Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Align Technology presently has a consensus rating of “Hold” and an average price target of $334.45.

Check Out Our Latest Report on Align Technology

Insiders Place Their Bets

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock worth $8,403,924 over the last three months. 0.64% of the stock is currently owned by corporate insiders.

Align Technology Stock Down 0.6 %

Shares of ALGN opened at $319.42 on Friday. The firm has a market capitalization of $23.99 billion, a price-to-earnings ratio of 54.88, a P/E/G ratio of 5.92 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The stock’s 50-day moving average price is $294.14 and its 200 day moving average price is $271.21.

Align Technology (NASDAQ:ALGNGet Free Report) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The business had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Equities research analysts expect that Align Technology, Inc. will post 7.65 EPS for the current year.

Align Technology Company Profile

(Free Report)

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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