Chicago Equity Partners LLC increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 324.4% in the third quarter, HoldingsChannel.com reports. The firm owned 14,238 shares of the medical equipment provider’s stock after acquiring an additional 10,883 shares during the period. Chicago Equity Partners LLC’s holdings in Align Technology were worth $5,570,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Sigma Planning Corp increased its position in Align Technology by 9.8% in the second quarter. Sigma Planning Corp now owns 1,527 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 136 shares during the period. Lido Advisors LLC increased its position in Align Technology by 15.9% in the second quarter. Lido Advisors LLC now owns 1,091 shares of the medical equipment provider’s stock worth $373,000 after purchasing an additional 150 shares during the period. Brighton Jones LLC increased its position in Align Technology by 5.5% in the second quarter. Brighton Jones LLC now owns 2,898 shares of the medical equipment provider’s stock worth $992,000 after purchasing an additional 151 shares during the period. HL Financial Services LLC increased its position in Align Technology by 8.0% in the second quarter. HL Financial Services LLC now owns 2,137 shares of the medical equipment provider’s stock worth $731,000 after purchasing an additional 158 shares during the period. Finally, Boston Family Office LLC increased its position in Align Technology by 6.7% in the second quarter. Boston Family Office LLC now owns 2,565 shares of the medical equipment provider’s stock worth $878,000 after purchasing an additional 160 shares during the period. Hedge funds and other institutional investors own 78.54% of the company’s stock.
In other news, SVP Stuart A. Hockridge sold 2,753 shares of Align Technology stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $366.73, for a total transaction of $1,009,607.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Warren S. Thaler sold 3,500 shares of Align Technology stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $363.62, for a total value of $1,272,670.00. Following the transaction, the director now owns 47,015 shares in the company, valued at approximately $17,095,594.30. The disclosure for this sale can be found here. Insiders have sold a total of 55,648 shares of company stock worth $20,577,327 in the last quarter. 1.40% of the stock is currently owned by company insiders.
Align Technology stock opened at $229.37 on Wednesday. The stock has a market cap of $18.45 billion, a PE ratio of 46.89, a P/E/G ratio of 1.99 and a beta of 2.00. Align Technology, Inc. has a 1 year low of $203.12 and a 1 year high of $398.88.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.05. The company had revenue of $505.30 million during the quarter, compared to analyst estimates of $503.14 million. Align Technology had a return on equity of 34.09% and a net margin of 16.89%. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS. Equities research analysts predict that Align Technology, Inc. will post 4.89 earnings per share for the current fiscal year.
ALGN has been the subject of a number of research reports. BidaskClub lowered Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 5th. Barclays reiterated a “buy” rating on shares of Align Technology in a research report on Thursday, July 26th. Stifel Nicolaus lifted their price objective on Align Technology from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Goldman Sachs Group started coverage on Align Technology in a research report on Saturday, October 20th. They set a “buy” rating and a $420.00 target price for the company. Finally, ValuEngine lowered Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $354.08.
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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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