Sei Investments Co. Sells 18,258 Shares of Align Technology, Inc. (ALGN)
Sei Investments Co. lessened its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 23.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,726 shares of the medical equipment provider’s stock after selling 18,258 shares during the period. Sei Investments Co. owned approximately 0.08% of Align Technology worth $11,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Schroder Investment Management Group purchased a new position in shares of Align Technology during the second quarter worth $104,000. CENTRAL TRUST Co raised its holdings in shares of Align Technology by 128.5% during the second quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after purchasing an additional 392 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Align Technology during the third quarter worth $107,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Align Technology by 13.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 105 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in shares of Align Technology during the second quarter worth $148,000. 80.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Align Technology, Inc. (ALGN) opened at $253.89 on Monday. Align Technology, Inc. has a 52-week low of $88.56 and a 52-week high of $257.60. The stock has a market cap of $20,360.00, a PE ratio of 75.11, a PEG ratio of 2.43 and a beta of 1.41.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $359.80 million. During the same quarter last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up 38.3% compared to the same quarter last year. research analysts expect that Align Technology, Inc. will post 3.62 earnings per share for the current fiscal year.
A number of research firms have weighed in on ALGN. Stifel Nicolaus reaffirmed a “buy” rating and issued a $225.00 price objective (up previously from $205.00) on shares of Align Technology in a report on Thursday, October 19th. Northcoast Research reaffirmed a “buy” rating and issued a $230.00 price objective (up previously from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Credit Suisse Group reaffirmed a “positive” rating and issued a $261.00 price objective (up previously from $209.00) on shares of Align Technology in a report on Thursday, November 9th. Bank of America Corporation raised shares of Align Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $175.00 to $193.00 in a report on Friday, July 28th. Finally, Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price objective for the company in a report on Monday, October 30th. Eleven research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $219.18.
In other news, VP Julie Tay sold 3,500 shares of Align Technology stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $253.00, for a total value of $885,500.00. Following the sale, the vice president now owns 12,213 shares in the company, valued at $3,089,889. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Greg J. Santora sold 7,700 shares of Align Technology stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,600 shares of company stock worth $4,031,567. Company insiders own 1.60% of the company’s stock.
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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