Motley Fool Asset Management LLC grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 82,741 shares of the medical equipment provider’s stock after acquiring an additional 205 shares during the quarter. Align Technology makes up 2.7% of Motley Fool Asset Management LLC’s holdings, making the stock its 5th largest holding. Motley Fool Asset Management LLC’s holdings in Align Technology were worth $23,526,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. bought a new position in shares of Align Technology during the 1st quarter valued at $28,000. Harvest Group Wealth Management LLC bought a new position in shares of Align Technology during the 1st quarter valued at $28,000. Larson Financial Group LLC increased its stake in shares of Align Technology by 588.2% in the 1st quarter. Larson Financial Group LLC now owns 117 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Align Technology by 67.6% in the 4th quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of Align Technology by 110.0% in the 1st quarter. Lindbrook Capital LLC now owns 126 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 66 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
In other Align Technology news, Director Joseph Lacob sold 20,000 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $258.31, for a total value of $5,166,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Julie Tay sold 13,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $322.41, for a total value of $4,352,535.00. Following the completion of the sale, the senior vice president now owns 24,096 shares of the company’s stock, valued at approximately $7,768,791.36. The disclosure for this sale can be found here. Insiders sold a total of 57,460 shares of company stock valued at $17,270,643 in the last quarter. 1.30% of the stock is currently owned by company insiders.
Shares of ALGN stock opened at $327.17 on Friday. Align Technology, Inc. has a 52-week low of $177.93 and a 52-week high of $398.88. The firm has a market capitalization of $26.06 billion, a price-to-earnings ratio of 66.50, a price-to-earnings-growth ratio of 2.61 and a beta of 2.14.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.06. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The business had revenue of $549.00 million during the quarter, compared to analyst estimates of $532.16 million. During the same quarter in the prior year, the business posted $1.17 EPS. Align Technology’s revenue for the quarter was up 25.7% compared to the same quarter last year. As a group, equities analysts expect that Align Technology, Inc. will post 5.33 earnings per share for the current fiscal year.
Several research firms have recently commented on ALGN. BidaskClub upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $333.00 price objective for the company in a research note on Friday, April 26th. Piper Jaffray Companies upped their price objective on Align Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. UBS Group set a $325.00 price objective on Align Technology and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Guggenheim began coverage on Align Technology in a research note on Wednesday, April 17th. They issued a “buy” rating and a $335.00 price objective for the company. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $340.07.
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About Align Technology
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
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