1,157 Shares in Align Technology, Inc. (ALGN) Purchased by Ballentine Partners LLC
Ballentine Partners LLC purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,157 shares of the medical equipment provider’s stock, valued at approximately $215,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. bought a new position in Align Technology during the 3rd quarter valued at approximately $107,000. CENTRAL TRUST Co raised its position in Align Technology by 128.5% during the 2nd quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock valued at $105,000 after purchasing an additional 392 shares during the last quarter. Schroder Investment Management Group bought a new position in Align Technology during the 2nd quarter valued at approximately $104,000. Bronfman E.L. Rothschild L.P. raised its position in Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after purchasing an additional 105 shares during the last quarter. Finally, BlueMountain Capital Management LLC bought a new position in Align Technology during the 2nd quarter valued at approximately $148,000. 80.86% of the stock is owned by institutional investors and hedge funds.
Align Technology, Inc. (ALGN) traded up $5.59 during trading on Monday, hitting $255.06. The company had a trading volume of 284,576 shares, compared to its average volume of 1,006,116. Align Technology, Inc. has a 52 week low of $88.56 and a 52 week high of $254.19. The stock has a market cap of $20,000.00, a P/E ratio of 73.81, a P/E/G ratio of 2.39 and a beta of 1.41.
Align Technology (NASDAQ:ALGN) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.82 by $0.19. Align Technology had a return on equity of 25.60% and a net margin of 19.98%. The business had revenue of $385.30 million for the quarter, compared to the consensus estimate of $359.80 million. During the same period last year, the business posted $0.63 EPS. The company’s revenue was up 38.3% compared to the same quarter last year. research analysts forecast that Align Technology, Inc. will post 3.62 EPS for the current year.
In other Align Technology news, CMO Raphael Pascaud sold 5,400 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the sale, the chief marketing officer now directly owns 22,228 shares in the company, valued at approximately $5,376,508.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Greg J. Santora sold 7,700 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
ALGN has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $182.00 target price (up previously from $175.00) on shares of Align Technology in a report on Monday, July 17th. Bank of America Corporation upgraded Align Technology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $175.00 to $193.00 in a report on Friday, July 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $176.00 target price on shares of Align Technology in a report on Friday, July 28th. Leerink Swann reiterated an “outperform” rating and set a $199.00 target price (up previously from $194.00) on shares of Align Technology in a report on Friday, July 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $205.00 target price (up previously from $200.00) on shares of Align Technology in a report on Monday, August 7th. Eleven analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $219.18.
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Align Technology Profile
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/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.
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