GW&K Investment Management LLC lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 58.7% in the fourth quarter, HoldingsChannel reports. The firm owned 64,119 shares of the medical equipment provider’s stock after selling 91,050 shares during the quarter. GW&K Investment Management LLC’s holdings in Align Technology were worth $14,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. QS Investors LLC grew its position in shares of Align Technology by 4.7% in the 2nd quarter. QS Investors LLC now owns 2,729 shares of the medical equipment provider’s stock valued at $410,000 after acquiring an additional 123 shares during the period. Bayesian Capital Management LP grew its position in shares of Align Technology by 3.2% in the 2nd quarter. Bayesian Capital Management LP now owns 6,500 shares of the medical equipment provider’s stock valued at $976,000 after acquiring an additional 200 shares during the period. Global Financial Private Capital LLC grew its position in shares of Align Technology by 8.6% in the 2nd quarter. Global Financial Private Capital LLC now owns 2,605 shares of the medical equipment provider’s stock valued at $391,000 after acquiring an additional 206 shares during the period. CAPROCK Group Inc. grew its position in shares of Align Technology by 13.2% in the 4th quarter. CAPROCK Group Inc. now owns 1,834 shares of the medical equipment provider’s stock valued at $474,000 after acquiring an additional 214 shares during the period. Finally, YorkBridge Wealth Partners LLC grew its position in shares of Align Technology by 4.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 5,681 shares of the medical equipment provider’s stock valued at $847,000 after acquiring an additional 241 shares during the period. 82.81% of the stock is owned by institutional investors.

In other Align Technology news, CMO Raphael Pascaud sold 5,400 shares of Align Technology stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $241.88, for a total value of $1,306,152.00. Following the completion of the sale, the chief marketing officer now owns 22,228 shares in the company, valued at approximately $5,376,508.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Lacob sold 29,724 shares of Align Technology stock in a transaction dated Thursday, November 30th. The stock was 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. In the last 90 days, insiders have sold 52,849 shares of company stock valued at $13,494,348. 1.60% of the stock is currently owned by corporate insiders.

Shares of Align Technology, Inc. (NASDAQ:ALGN) opened at $269.46 on Monday. The stock has a market cap of $21,604.68, a PE ratio of 81.65, a PEG ratio of 2.11 and a beta of 1.43. Align Technology, Inc. has a 12 month low of $88.56 and a 12 month high of $273.60.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.19. The company had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. Align Technology’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 EPS. equities research analysts forecast that Align Technology, Inc. will post 3.67 earnings per share for the current year.

ALGN has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $220.00 price objective (up previously from $195.00) on shares of Align Technology in a research report on Friday, October 6th. Northcoast Research reissued a “buy” rating and issued a $230.00 price objective (up previously from $200.00) on shares of Align Technology in a research report on Tuesday, October 10th. Robert W. Baird set a $208.00 price objective on shares of Align Technology and gave the company a “buy” rating in a research report on Wednesday, October 18th. Stifel Nicolaus reissued a “buy” rating and issued a $225.00 price objective (up previously from $205.00) on shares of Align Technology in a research report on Thursday, October 19th. Finally, Leerink Swann reissued an “outperform” rating and issued a $250.00 price objective on shares of Align Technology in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Align Technology has a consensus rating of “Buy” and a consensus target price of $236.23.

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

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