Ameritas Investment Partners Inc. lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 33.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,003 shares of the medical equipment provider’s stock after selling 4,600 shares during the period. Ameritas Investment Partners Inc.’s holdings in Align Technology were worth $1,659,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Schroder Investment Management Group bought a new stake in Align Technology during the 2nd quarter valued at $104,000. Whittier Trust Co. bought a new stake in Align Technology during the 3rd quarter valued at $107,000. Bronfman E.L. Rothschild L.P. raised its holdings 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 buying an additional 105 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in Align Technology during the 2nd quarter valued at $148,000. Finally, Commonwealth Bank of Australia raised its holdings in Align Technology by 10.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock valued at $169,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Align Technology, Inc. (NASDAQ ALGN) opened at $234.37 on Wednesday. Align Technology, Inc. has a 1-year low of $88.56 and a 1-year high of $266.41. The company has a market cap of $18,734.32, a price-to-earnings ratio of 69.13, a price-to-earnings-growth ratio of 2.23 and a beta of 1.43.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data 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 net margin of 19.98% and a return on equity of 25.60%. The business had revenue of $385.30 million during the quarter, compared to analyst estimates of $359.80 million. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. equities analysts forecast that Align Technology, Inc. will post 3.62 EPS for the current year.

In other Align Technology news, Director Greg J. Santora sold 7,700 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Morici sold 1,500 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $255.00, for a total transaction of $382,500.00. Following the completion of the transaction, the chief financial officer now owns 1,544 shares of the company’s stock, valued at $393,720. The disclosure for this sale can be found here. Insiders sold a total of 52,849 shares of company stock valued at $13,494,348 over the last 90 days. Company insiders own 1.60% of the company’s stock.

A number of equities research analysts recently commented on ALGN shares. Zacks Investment Research lowered shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 21st. Stifel Nicolaus reiterated a “buy” rating and set a $225.00 price target (up from $205.00) on shares of Align Technology in a report on Thursday, October 19th. Morgan Stanley reiterated an “overweight” rating and set a $220.00 price target (up from $195.00) on shares of Align Technology in a report on Friday, October 6th. Northcoast Research reiterated a “buy” rating and set a $230.00 price target (up from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Finally, Credit Suisse Group reiterated a “positive” rating and set a $261.00 price target (up from $209.00) on shares of Align Technology in a report on Thursday, November 9th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $236.75.

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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.

Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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