Align Technology, Inc. (ALGN) Shares Sold by Fernwood Investment Management LLC
Fernwood Investment Management LLC cut its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 32.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,450 shares of the medical equipment provider’s stock after selling 1,200 shares during the quarter. Fernwood Investment Management LLC’s holdings in Align Technology were worth $456,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. bought a new position in shares of Align Technology during the third quarter worth about $2,875,000. Oppenheimer & Co. Inc. bought a new position in shares of Align Technology during the second quarter worth about $1,768,000. Aperio Group LLC grew its stake in Align Technology by 38.5% in the third quarter. Aperio Group LLC now owns 42,818 shares of the medical equipment provider’s stock valued at $7,976,000 after purchasing an additional 11,892 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Align Technology in the second quarter valued at approximately $454,000. Finally, American Century Companies Inc. grew its stake in Align Technology by 2,236.0% in the second quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock valued at $33,178,000 after purchasing an additional 211,548 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.
Align Technology, Inc. (ALGN) opened at $254.76 on Monday. Align Technology, Inc. has a one year low of $88.56 and a one year high of $258.88. The company has a market capitalization of $20,426.15, a P/E ratio of 75.37, a PEG ratio of 2.44 and a beta of 1.42.
Align Technology (NASDAQ:ALGN) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. equities analysts expect that Align Technology, Inc. will post 3.62 EPS for the current year.
In other news, Director Greg J. Santora sold 7,700 shares of Align Technology stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $238.95, for a total transaction of $1,839,915.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Raphael Pascaud sold 5,400 shares of Align Technology stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $241.88, for a total value of $1,306,152.00. Following the transaction, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at $5,376,508.64. The disclosure for this sale can be found here. Insiders have sold a total of 16,600 shares of company stock valued at $4,031,567 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on the company. Stifel Nicolaus raised their price target on Align Technology from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Credit Suisse Group restated a “positive” rating and issued a $261.00 price target (up from $209.00) on shares of Align Technology in a research note on Thursday, November 9th. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target for the company in a research note on Monday, October 30th. Leerink Swann restated an “outperform” rating and issued a $250.00 price target on shares of Align Technology in a research note on Friday, October 27th. Finally, Robert W. Baird restated a “buy” rating and issued a $245.00 price target on shares of Align Technology in a research note on Friday, October 27th. Eleven investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $222.82.
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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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