Align Technology, Inc. (ALGN) Shares Bought by Allegis Investment Advisors LLC
Allegis Investment Advisors LLC increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 47.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,055 shares of the medical equipment provider’s stock after buying an additional 1,943 shares during the period. Allegis Investment Advisors LLC’s holdings in Align Technology were worth $909,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. increased its stake in Align Technology by 136.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 129,994 shares of the medical equipment provider’s stock worth $12,497,000 after buying an additional 74,974 shares during the period. Capstone Asset Management Co. increased its stake in Align Technology by 3.6% in the first quarter. Capstone Asset Management Co. now owns 10,346 shares of the medical equipment provider’s stock worth $1,187,000 after buying an additional 360 shares during the period. Eastern Bank increased its stake in Align Technology by 37.4% in the first quarter. Eastern Bank now owns 3,623 shares of the medical equipment provider’s stock worth $416,000 after buying an additional 986 shares during the period. Louisiana State Employees Retirement System increased its stake in Align Technology by 3.2% in the first quarter. Louisiana State Employees Retirement System now owns 19,100 shares of the medical equipment provider’s stock worth $2,191,000 after buying an additional 600 shares during the period. Finally, Conestoga Capital Advisors LLC increased its stake in Align Technology by 1.1% in the first quarter. Conestoga Capital Advisors LLC now owns 326,081 shares of the medical equipment provider’s stock worth $37,405,000 after buying an additional 3,556 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.
Shares of Align Technology, Inc. (NASDAQ:ALGN) opened at 179.3117 on Wednesday. The company has a market cap of $14.37 billion, a P/E ratio of 61.4081 and a beta of 1.55. The stock’s 50 day moving average is $160.84 and its 200-day moving average is $131.46. Align Technology, Inc. has a 12 month low of $83.27 and a 12 month high of $179.76.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.12. The business had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $343.43 million. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The business’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share. On average, equities analysts forecast that Align Technology, Inc. will post $3.40 EPS for the current year.
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A number of equities research analysts have commented on ALGN shares. Robert W. Baird raised shares of Align Technology from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $105.00 to $155.00 in a research report on Friday, April 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $150.00 target price (up previously from $110.00) on shares of Align Technology in a research report on Saturday, April 29th. Leerink Swann reaffirmed an “outperform” rating and issued a $149.00 target price (up previously from $118.00) on shares of Align Technology in a research report on Saturday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $175.00 target price on shares of Align Technology in a research report on Monday, June 19th. They noted that the move was a valuation call. Finally, Northcoast Research reaffirmed a “buy” rating and issued a $186.00 target price (up previously from $164.00) on shares of Align Technology in a research report on Wednesday, June 21st. Ten equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $174.40.
In other news, VP Sreelakshmi Kolli sold 1,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $144.00, for a total value of $144,000.00. Following the sale, the vice president now owns 23,785 shares in the company, valued at $3,425,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Lacob sold 50,000 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $144.98, for a total transaction of $7,249,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,874 shares of company stock valued at $7,950,701. Corporate insiders own 2.00% of the company’s stock.
Align Technology Company 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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