WealthPLAN Partners LLC trimmed its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 37.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 853 shares of the medical equipment provider’s stock after selling 518 shares during the period. WealthPLAN Partners LLC’s holdings in Align Technology were worth $292,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Stelac Advisory Services LLC acquired a new stake in shares of Align Technology during the 2nd quarter worth $103,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in shares of Align Technology during the 1st quarter worth $100,000. Centaurus Financial Inc. acquired a new stake in shares of Align Technology during the 2nd quarter worth $137,000. Cornerstone Advisors Inc. increased its holdings in shares of Align Technology by 133.7% during the 1st quarter. Cornerstone Advisors Inc. now owns 437 shares of the medical equipment provider’s stock worth $110,000 after buying an additional 250 shares during the last quarter. Finally, Nicolet Bankshares Inc. acquired a new stake in shares of Align Technology during the 2nd quarter worth $222,000. Institutional investors and hedge funds own 78.53% of the company’s stock.
NASDAQ ALGN traded up $0.69 during trading hours on Wednesday, hitting $386.65. The company had a trading volume of 74,468 shares, compared to its average volume of 970,974. Align Technology, Inc. has a fifty-two week low of $180.31 and a fifty-two week high of $393.98. The company has a market cap of $31.34 billion, a P/E ratio of 99.40, a P/E/G ratio of 2.61 and a beta of 1.53.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.21. Align Technology had a return on equity of 32.61% and a net margin of 17.00%. The firm had revenue of $490.26 million during the quarter, compared to the consensus estimate of $472.10 million. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 37.5% compared to the same quarter last year. equities analysts predict that Align Technology, Inc. will post 4.97 earnings per share for the current fiscal year.
ALGN has been the subject of a number of research analyst reports. BidaskClub upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Leerink Swann upped their price objective on Align Technology from $305.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, May 24th. Stifel Nicolaus upped their price objective on Align Technology from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, July 13th. Northcoast Research reiterated a “buy” rating and issued a $430.00 price target on shares of Align Technology in a report on Tuesday, June 26th. Finally, Piper Jaffray Companies increased their price target on Align Technology to $425.00 and gave the company an “overweight” rating in a report on Friday, July 20th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. Align Technology currently has a consensus rating of “Buy” and an average price target of $362.78.
In other Align Technology news, SVP Simon Beard sold 3,895 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $384.48, for a total value of $1,497,549.60. Following the completion of the transaction, the senior vice president now directly owns 3,577 shares of the company’s stock, valued at approximately $1,375,284.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Stuart A. Hockridge sold 2,753 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $366.73, for a total transaction of $1,009,607.69. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,648 shares of company stock valued at $20,577,327. 1.40% of the stock is currently owned by corporate insiders.
Align Technology Company Profile
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.
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