Align Technology, Inc. (ALGN) Holdings Reduced by Dupont Capital Management Corp
Dupont Capital Management Corp decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 40.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,604 shares of the medical equipment provider’s stock after selling 1,773 shares during the quarter. Dupont Capital Management Corp’s holdings in Align Technology were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its stake in Align Technology by 32.2% during the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock worth $471,823,000 after acquiring an additional 765,189 shares during the period. Bank of New York Mellon Corp raised its stake in Align Technology by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,946,097 shares of the medical equipment provider’s stock worth $362,499,000 after acquiring an additional 42,570 shares during the period. Janus Henderson Group PLC raised its stake in Align Technology by 26.6% during the 3rd quarter. Janus Henderson Group PLC now owns 752,014 shares of the medical equipment provider’s stock worth $140,077,000 after acquiring an additional 157,890 shares during the period. Atlantic Trust Group LLC raised its stake in Align Technology by 4,682.8% during the 3rd quarter. Atlantic Trust Group LLC now owns 638,935 shares of the medical equipment provider’s stock worth $119,014,000 after acquiring an additional 625,576 shares during the period. Finally, Legal & General Group Plc raised its stake in Align Technology by 221.0% during the 3rd quarter. Legal & General Group Plc now owns 383,295 shares of the medical equipment provider’s stock worth $71,396,000 after acquiring an additional 263,875 shares during the period. Institutional investors own 82.50% of the company’s stock.
In related news, VP Emory Wright sold 5,025 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total value of $1,324,992.00. Following the completion of the transaction, the vice president now directly owns 80,762 shares of the company’s stock, valued at $21,295,324.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Lacob sold 29,724 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $260.91, for a total transaction of $7,755,288.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,529 shares of company stock valued at $22,254,743. 1.60% of the stock is currently owned by insiders.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.23. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The firm had revenue of $421.30 million for the quarter, compared to analysts’ expectations of $395.88 million. During the same quarter last year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was up 43.7% compared to the same quarter last year. equities analysts expect that Align Technology, Inc. will post 4.49 earnings per share for the current fiscal year.
A number of research firms have commented on ALGN. BidaskClub cut shares of Align Technology from a “buy” rating to a “hold” rating in a research note on Friday. Leerink Swann lifted their price objective on shares of Align Technology from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Piper Jaffray Companies reiterated a “buy” rating and set a $300.00 price objective on shares of Align Technology in a research report on Wednesday, January 31st. Zacks Investment Research cut shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $225.00 price objective (up previously from $205.00) on shares of Align Technology in a research report on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $258.54.
ILLEGAL ACTIVITY NOTICE: This piece was first reported by Watch List News and is the property of of Watch List News. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.watchlistnews.com/align-technology-inc-algn-holdings-reduced-by-dupont-capital-management-corp/1856806.html.
About Align Technology
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.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.