Rampart Investment Management Company LLC lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,880 shares of the medical equipment provider’s stock after purchasing an additional 680 shares during the period. Rampart Investment Management Company LLC’s holdings in Align Technology were worth $5,433,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Stelac Advisory Services LLC purchased a new stake in shares of Align Technology in the 2nd quarter worth about $103,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of Align Technology in the 1st quarter worth about $100,000. Cornerstone Advisors Inc. lifted its position in Align Technology by 133.7% during the 1st quarter. Cornerstone Advisors Inc. now owns 437 shares of the medical equipment provider’s stock valued at $110,000 after acquiring an additional 250 shares during the period. Nicolet Bankshares Inc. purchased a new position in Align Technology during the 2nd quarter valued at about $222,000. Finally, Checchi Capital Advisers LLC purchased a new position in Align Technology during the 2nd quarter valued at about $232,000. 78.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Align Technology stock opened at $381.75 on Wednesday. The stock has a market capitalization of $31.04 billion, a price-to-earnings ratio of 98.07, a PEG ratio of 2.58 and a beta of 1.53. Align Technology, Inc. has a 52-week low of $174.44 and a 52-week high of $392.69.
Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 25th. The medical equipment provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.21. The business had revenue of $490.26 million during the quarter, compared to analysts’ expectations of $472.10 million. Align Technology had a net margin of 17.00% and a return on equity of 32.61%. The business’s revenue for the quarter was up 37.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. sell-side analysts predict that Align Technology, Inc. will post 4.97 EPS for the current fiscal year.
A number of research analysts recently issued reports on ALGN shares. BidaskClub raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. Leerink Swann lifted their price target on shares of Align Technology from $305.00 to $360.00 and gave the company an “outperform” rating in a research report on Thursday, May 24th. Stifel Nicolaus lifted their price target on shares of Align Technology from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, July 13th. Northcoast Research reissued a “buy” rating and set a $430.00 price target on shares of Align Technology in a research report on Tuesday, June 26th. Finally, Piper Jaffray Companies lifted their price target on shares of Align Technology to $425.00 and gave the company an “overweight” rating in a research report on Friday, July 20th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. Align Technology has a consensus rating of “Buy” and a consensus target price of $353.79.
In other Align Technology news, insider Joseph M. Hogan sold 25,000 shares of Align Technology stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $367.48, for a total value of $9,187,000.00. Following the completion of the transaction, the insider now directly owns 105,713 shares of the company’s stock, valued at $38,847,413.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Raphael Pascaud sold 10,500 shares of Align Technology stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $361.00, for a total transaction of $3,790,500.00. Following the completion of the transaction, the chief marketing officer now directly owns 25,087 shares of the company’s stock, valued at $9,056,407. The disclosure for this sale can be found here. Insiders sold 55,648 shares of company stock valued at $20,577,327 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.
About Align Technology
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
Featured Article: Moving Average – How it Helps Investors in Stock Selection
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.