Align Technology Inc. (ALGN) Position Boosted by LS Investment Advisors LLC
LS Investment Advisors LLC increased its position in shares of Align Technology Inc. (NASDAQ:ALGN) by 75.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,045 shares of the company’s stock after buying an additional 2,163 shares during the period. LS Investment Advisors LLC’s holdings in Align Technology were worth $406,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of ALGN. Wellington Management Group LLP raised its position in shares of Align Technology by 7,138.7% in the first quarter. Wellington Management Group LLP now owns 939,946 shares of the company’s stock worth $68,325,000 after buying an additional 926,961 shares during the last quarter. Norges Bank acquired a new stake in Align Technology during the fourth quarter valued at approximately $45,205,000. Magee Thomson Investment Partners LLC acquired a new stake in Align Technology during the second quarter valued at approximately $10,588,000. RMB Capital Management LLC increased its stake in Align Technology by 93.0% in the first quarter. RMB Capital Management LLC now owns 264,048 shares of the company’s stock valued at $19,194,000 after buying an additional 127,253 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Align Technology during the first quarter valued at approximately $7,269,000. Institutional investors and hedge funds own 87.65% of the company’s stock.
Align Technology Inc. (NASDAQ:ALGN) traded up 0.98% during trading on Friday, reaching $93.84. 1,032,675 shares of the company’s stock were exchanged. Align Technology Inc. has a 52 week low of $54.64 and a 52 week high of $96.90. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 45.78 and a beta of 1.97. The stock has a 50-day moving average price of $92.59 and a 200 day moving average price of $80.28.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Align Technology had a net margin of 17.67% and a return on equity of 19.40%. The company had revenue of $269.40 million for the quarter, compared to analysts’ expectations of $259.29 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. Equities research analysts forecast that Align Technology Inc. will post $2.28 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Align Technology from $82.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective on the stock in a report on Wednesday, July 13th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Align Technology in a report on Saturday, June 4th. Robert W. Baird reaffirmed a “buy” rating on shares of Align Technology in a report on Saturday, June 4th. Finally, Leerink Swann reaffirmed a “buy” rating on shares of Align Technology in a report on Saturday, June 4th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Align Technology currently has an average rating of “Buy” and an average price target of $83.09.
In other Align Technology news, VP Zelko Relic sold 13,577 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $95.91, for a total transaction of $1,302,170.07. Following the sale, the vice president now owns 1,375 shares of the company’s stock, valued at $131,876.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jennifer Olson sold 799 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $93.30, for a total transaction of $74,546.70. Following the sale, the vice president now directly owns 4,483 shares in the company, valued at approximately $418,263.90. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.